Location: Greene County, NC | Metro: Greenville, NC MSA
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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $119,952 | 0.84% | C |
| 3BR | $1,320 | $216,379 | 0.61% | D |
| 4BR | $1,660 | $312,235 | 0.53% | F |
U.S. Census Bureau data (2024)
Ayden, NC, located in ZIP code 28513, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. Let's address some common objections that might arise when considering investment in this area.
Objection 1: Will Fair Market Rent (FMR) of $930 cover the mortgage on a $230,785 home?
The FMR of $930 for ZIP code 28513 in fiscal year 2024 does provide a baseline for rental income, but it must be considered alongside the cost of financing a property valued at $230,785. A conservative estimate using a 4.5% interest rate over a 30-year fixed mortgage would result in monthly payments around $1,160, not including property taxes, insurance, and maintenance costs. This suggests that relying solely on FMR might not fully cover the mortgage payment. However, investors can mitigate this risk by targeting properties below the median value or securing tenants willing to pay above the FMR.
Objection 2: Is there enough renter demand at 25.0%?
The 25.0% rental rate in Ayden, NC, indicates that a quarter of the housing units are rented. While this percentage might seem low compared to urban areas, it reflects a stable demand for rental properties. The key metric here is vacancy rates, which determine how competitive the market is. Unfortunately, the data does not specify the vacancy rate for ZIP 28513. If the vacancy rate is high, it could indicate oversupply and make renting out properties more challenging. Conversely, if the vacancy rate is low, it suggests strong demand. Landlords should also consider the local economy and job market trends to gauge future demand stability.
Objection 3: Will vouchers keep pace with $792 market rents?
The market rent of $792 is lower than the FMR, indicating that voucher holders might find it easier to secure housing in Ayden, NC. However, the question remains whether the government will adjust voucher amounts to match the rising FMR. As of now, the data does not provide a direct answer to this. It's crucial to monitor any updates from HUD regarding voucher adjustments in the region. Additionally, the mix of voucher users and market-rate tenants can influence overall portfolio performance. Investors should assess the likelihood of attracting both types of tenants and understand the administrative requirements associated with accepting vouchers.
In summary, while Ayden, NC, offers a rental market with defined parameters, investors must carefully evaluate the financials and local conditions. The FMR may not fully cover mortgage expenses without additional considerations, the rental demand appears stable but requires further investigation into vacancy rates, and the relationship between voucher amounts and market rents needs ongoing attention.
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.