Section 8 Fair Market Rent (FMR) for ZIP 28468 - 2027
Location: Brunswick County, NC | Metro: Brunswick County, NC HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,420 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$83,358
Housing Authorities Serving ZIP 28468
To determine if you should buy a property in ZIP 28468 (Sunset Beach, NC) for Section 8 investment, follow this decision tree:
- Does the FMR of $1250 cover the debt service on a $427,982 property?
- No. The Fair Market Rent (FMR) of $1250 for the fiscal year 2024 does not sufficiently cover the debt service on a property valued at $427,982. This indicates that the property's rental income would be insufficient to meet mortgage payments and other expenses, making it an unprofitable investment under Section 8 guidelines.
- Is the market rent of $1,755 (ZORI) above, at, or below the FMR?
- The Zillow Observed Rental Index (ZORI) of $1,755 is above the FMR of $1250. This suggests that while the property could command higher rents in the open market, it would not be eligible for Section 8 tenants who can only pay up to the FMR rate.
- Are 12.6% of residents renters and is the Days on Market (DOM) of 78 days sufficient to meet demand?
- It depends. With 12.6% of residents being renters and an average DOM of 78 days, there is some demand for rental properties in Sunset Beach. However, given the low percentage of renters and the relatively high DOM, the demand may not be strong enough to support a Section 8 property, especially considering the property's value and the limited rental income.
In conclusion, based on the provided data, investing in a $427,982 property in ZIP 28468 for Section 8 purposes is not advisable. The FMR does not cover the debt service, and although market rents are higher, they do not align with the Section 8 tenant payment capabilities. Additionally, the rental demand appears to be weak, which further complicates the feasibility of such an investment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.