Location: Lenoir County, NC | Metro: Craven 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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $112,022 | 0.96% | C |
| 3BR | $1,440 | $165,966 | 0.87% | C |
U.S. Census Bureau data (2024)
The ZIP code 28526, located in Dover, NC, represents a modest-sized community with a population of 1,842 residents. Within this community, 17.2% of individuals are renters, indicating a relatively small but significant portion of the populace relies on rental housing. The median household income stands at $39,110, which provides a critical benchmark for assessing the affordability of housing in the area.
Average market rents in ZIP 28526 are priced at $920 per month. This figure represents approximately 23.5% of the median household income when calculated annually. Given that the Fair Market Rent (FMR) for the area is set at $1120 per month for FY 2024, it suggests that properties renting at $920 are slightly below the FMR threshold, potentially making them attractive to tenants seeking government-subsidized housing through the Section 8 program.
The demand for Section 8 vouchers in ZIP 28526 is likely to be substantial given the relatively low median income and the presence of market rents that are lower than the FMR. Landlords in this area can expect a steady flow of applications from tenants who qualify for the Section 8 program, particularly those whose incomes fall below the eligibility threshold for housing assistance.
To put this into perspective, if a landlord's property is rented at the average market rate of $920, the tenant would only need to contribute approximately 30% of their income towards rent, as is typically required under the Section 8 program. This means that the tenant would be responsible for about $276 per month, while the government would cover the remaining $644. This arrangement makes it feasible for many low-income residents to afford housing in Dover.
In summary, ZIP 28526 is best characterized as an area with a modest number of renters, where the demand for Section 8 vouchers is expected to be high due to the lower-than-FMR market rents. Landlords should anticipate tenants who rely on government subsidies to meet their housing needs, with most having incomes around or below the median of $39,110. These tenants will generally be committed to paying their share of the rent on time, understanding the importance of maintaining their voucher status.
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.