Location: Carteret County, NC | Metro: Carteret County, NC
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 | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,610 | $237,765 | 0.68% | D |
U.S. Census Bureau data (2024)
The classification of ZIP code 28524 hinges on the balance between yield and stability, which are crucial factors for landlords and small-portfolio investors. On the yield axis, the Federal Market Rent (FMR) of $1,200 for the fiscal year 2026 stands out. This figure suggests that properties in this area can command relatively high rental rates compared to the broader market where FMR data is not available. Additionally, the home value of $226,925 provides a solid base for potential appreciation and equity growth, although it is important to note that the lack of market-specific FMR data introduces an element of uncertainty.
Moving to the stability axis, the metrics paint a mixed picture. With only 10.3% of the population being renters, the demand for rental properties is relatively low, which could lead to higher vacancy rates and increased competition among landlords. The absence of data regarding days on market (DOM) further complicates the assessment of how quickly properties can be rented out. However, the median household income of $74,219 indicates a reasonably stable economic environment, which supports the ability of residents to pay rent consistently.
Considering these factors, ZIP code 28524 does not fit neatly into either a high-yield/low-stability 'flip-style' market or a steady-cashflow zone. Instead, it represents a middle ground where the potential for high yields through rental income is present but tempered by lower renter demographics and limited market-specific data. For investors, this means that while there is a chance for significant returns, they must also be prepared for potential challenges in maintaining occupancy rates and navigating local market dynamics.
To summarize, the high FMR of $1,200 and the substantial home value of $226,925 suggest strong earning potential. Conversely, the modest 10.3% renter rate and the incomplete dataset indicate that the stability of cash flow might be less predictable. Therefore, ZIP 28524 is best described as a moderately attractive investment opportunity that requires careful consideration and strategic planning.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.