Location: Brunswick County, NC | Metro: Brunswick County, NC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $231,951 | 0.61% | D |
| 3BR | $1,850 | $327,416 | 0.57% | F |
| 4BR | $2,160 | $385,038 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 28470, located in Shallotte, NC, represents a moderately renter-heavy area with significant potential for Section 8 tenants. With a population of 11,219, 25.0% of residents are renters, indicating a substantial demand for rental properties. The median household income in this ZIP is $65,030, which provides a baseline for understanding the financial capabilities of the local tenant pool.
The market rent for this area is $1,640 per month, which consumes approximately 25.2% of the median household income. This figure suggests that while the cost of renting is considerable, it remains manageable for the average resident. However, the Federal Market Rent (FMR) for FY 2024 is set at $990, indicating a substantial gap between the market rent and the amount covered by vouchers. This discrepancy means that landlords will need to consider the additional financial burden tenants might face when supplementing their voucher payments.
To put this into perspective, the difference between the FMR and the market rent is $650 per month, which tenants would have to cover on their own. Given the median income, this additional expense can be challenging for many potential tenants, highlighting the importance of understanding the local financial landscape before accepting Section 8 tenants.
In terms of the tenant profile, landlords in ZIP 28470 should expect a mix of families and individuals who rely on housing assistance due to lower income levels. These tenants are likely to be sensitive to the total cost of living, including rent, utilities, and other expenses. Landlords should also anticipate a higher demand for affordable units, as the voucher system aims to support those who struggle to pay market rates without assistance.
While the area has a notable number of renters, the income levels suggest that the competition for affordable units can be intense. Landlords should prepare to offer competitive amenities and maintain high property standards to attract and retain tenants who qualify for Section 8 vouchers. Additionally, landlords must be prepared to navigate the administrative requirements associated with accepting voucher holders, ensuring compliance with HUD guidelines and managing the paperwork effectively.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.