Location: Jones County, NC | Metro: Jones County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
The potential risks for a first-time Section 8 landlord investing in ZIP code 28522 in Unknown, NC, include significant challenges related to tenant turnover, vacancy exposure, and deferred maintenance. Without specific market rent data, it's difficult to assess the exact financial impact on rental income, but the Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $860. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit, which may not cover the full cost of maintaining properties at optimal standards.
Vacancy exposure is another critical concern. The Days on Market (DOM) data is currently unavailable, indicating that there might be periods where units remain unoccupied. During these times, landlords will not receive rental payments, leading to financial strain. Additionally, the lack of data on the typical home value and median income in the area suggests that there may be deferred maintenance issues due to lower overall economic conditions. Landlords must be prepared to invest in property upkeep to ensure compliance with housing quality standards.
However, the high renter density in ZIP 28522, represented by the N/A% renter share, typically indicates a strong demand for rental properties, including those utilizing Section 8 vouchers. This high demand can mitigate some of the risks associated with tenant turnover and vacancies, as landlords are likely to find qualified tenants quickly.
In conclusion, based on the available data, the investment risk for a first-time Section 8 landlord in ZIP code 28522 is moderate. While there are significant risks related to vacancy and maintenance, the high renter density offers a buffer against these challenges.
Data Sources: FMR data from HUD (2027).
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.