Location: Pamlico County, NC | Metro: Pamlico County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 28509 in fiscal year 2024 is set at $1140. This figure represents the maximum amount that a landlord can receive through the Section 8 program for a unit in this area. It's important to note that this is not the actual rent you'll charge your tenant; rather, it's the payment standard used by the Housing Choice Voucher Program to determine the monthly housing assistance payment.
Local market rents in ZIP 28509 are currently N/A, which means the FMR of $1140 serves as a guideline for what the government will pay towards rent. Since the local market rent data is unavailable, we use the FMR as a benchmark for assessing demand and setting your own rent. With a 100.0% renter share, this indicates that the government expects the full rent to be covered by the voucher, leaving no gap for tenants to pay out-of-pocket.
The acquisition cost for properties in this ZIP code is also listed as N/A, meaning there isn't enough data to provide an average cost for acquiring a rental property. However, you should still aim to find a property that fits within your budget and can be rented out at a rate that does not exceed the $1140 FMR.
Before deciding to accept a Section 8 tenant in ZIP 28509, ensure that the property meets all the required inspection standards. The Housing Authority will conduct an inspection to verify that the unit is safe, decent, and sanitary. If your property fails to meet these standards, you might have to make improvements, which could affect your initial investment and ongoing costs.
In summary, if you're considering your first Section 8 rental in ZIP 28509, the FMR of $1140 is the key figure you need to know. This is the limit on what the government will pay for a unit in this area. Given the 100.0% renter share, you can expect the full rent to be covered by the voucher program. However, you must verify that your property meets all necessary inspection requirements to avoid any issues down the line.
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.