Location: Craven County, NC | Metro: Craven County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 28519 presents a nuanced picture for both landlords and small-portfolio investors. The median home value is currently unavailable, which suggests that there may be limited recent sales data to provide a clear benchmark for property values in the area. This lack of updated valuation metrics can indicate either a stable market where frequent revaluations are unnecessary, or a less active market where fewer transactions occur.
Additionally, the percentage of listings that have been reduced and the median days on market (DOM) are also not available. These missing figures would typically give insights into seller urgency and market competition. However, the absence of such data points implies a potential challenge in assessing the immediate pricing power. Landlords and investors should rely on historical trends and consult local real estate agents for the most accurate insights.
On the rental side, the Forward Monthly Rent (FMR) for ZIP 28519 in fiscal year 2024 is projected at $1180, while the current market rent based on Census ACS data is $1010. This indicates a potential increase in rental rates, signaling that landlords could consider modest rent hikes to align with the expected FMR. However, the actual implementation should be carefully balanced against local economic conditions and tenant affordability.
For long-term investors, the setup implies a steady but cautious appreciation thesis. With the projected rise in rental rates, there is a foundation for gradual property value growth, driven by increased demand and higher rental income potential. However, without specific median home value and listing reduction data, it's prudent to expect moderate appreciation rather than rapid increases. The key to success will be maintaining properties in good condition and positioning them well in the rental market to attract tenants willing to pay closer to the FMR.
Landlords and investors should continue to monitor local real estate trends closely, including any updates on median home values and DOM, to make informed decisions. The combination of rising rents and potentially stable property values creates an environment where holding onto properties can be financially beneficial, provided that the investment aligns with the long-term strategic goals of the portfolio.
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.