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 | $339,598 | 0.47% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 28528 is characterized by a fixed Fair Market Rent (FMR) of $1,100 for the fiscal year 2026, indicating a stable rental price floor set by the government for Section 8 participants. Despite this stability, the current market rent data is unavailable, suggesting either a lack of recent transactions or insufficient reporting to provide an accurate snapshot of prevailing rents.
The median home value in this area stands at $356,912, which is a significant figure that landlords and small-portfolio investors should consider when evaluating property investments. This median value reflects the overall cost of homeownership and can be indicative of the local economy's health and residents' purchasing power.
A key metric for understanding the balance between supply and demand is the percentage of homes offered at a price cut and the days on market (DOM) for those listings. Unfortunately, these figures are also currently unavailable for ZIP 28528. However, the absence of such data might imply a relatively balanced market where neither buyers nor sellers are feeling particularly pressured to adjust prices or wait longer for sales.
The 4.0% renter share provides insight into the broader housing dynamics. This low percentage suggests that homeownership is predominant in the area, potentially indicating less immediate pressure on rental markets. However, it also points to a long-term trend where a smaller segment of the population relies on rentals, which could mean that any increase in rental demand would have a pronounced effect on the limited pool of available rental properties.
In summary, while the FMR offers a stable anchor for rental pricing, the lack of recent market rent data complicates a straightforward analysis of supply versus demand. The median home value gives a sense of the overall property costs, and the low renter share hints at a predominantly owner-occupied community. These factors collectively suggest a market that is likely to experience fluctuations in response to changes in local economic conditions and housing preferences.
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.