Location: Lenoir County, NC | Metro: Duplin 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 | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $121,207 | 0.83% | C |
| 3BR | $1,260 | $202,934 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 28525, located in Deep Run, North Carolina, presents a modest opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 3,613, 29.7% of residents are renters, indicating a significant but not overwhelming rental market presence. The median household income stands at $59,191, which is relatively close to the Fair Market Rent (FMR) benchmark of $930 for the metro area in fiscal year 2026.
The market rent in this area is $879, which represents approximately 15% of the median household income. This percentage suggests that rent is affordable for the majority of households, even those not participating in the Section 8 program. However, the proximity of the median income to the FMR indicates a potential strain on lower-income families who may rely heavily on rental assistance programs such as Section 8 to secure housing.
Compared to the FMR of $930, the actual market rent of $879 is slightly below the threshold, which could imply that there is a reasonable demand for vouchers among renters. This demand can be attributed to the fact that many residents might still find it challenging to afford housing without financial assistance, especially considering the economic conditions and income distribution in the area.
In terms of tenant profiles, landlords in ZIP 28525 can expect a mix of individuals and families who are likely to be seeking affordable housing options. A significant portion of these tenants will be low to moderate-income earners, potentially including a considerable number of Section 8 participants. These tenants will typically have a strong need for stable and affordable housing solutions, making them reliable candidates for long-term tenancy if they adhere to the program's requirements and manage their finances responsibly.
Overall, while Deep Run, NC, is not dominated by homeowners, it is also not a hotbed for deep voucher demand. The rental market is substantial enough to support a healthy flow of Section 8 tenants, but landlords should be prepared for a competitive environment as rents approach the FMR levels. Expect tenants who are financially constrained but committed to finding a suitable living arrangement.
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.