Section 8 Fair Market Rent (FMR) for ZIP 28529 - 2027

Location: Pamlico County, NC | Metro: Pamlico County, NC

Investment Score for ZIP 28529

N/A

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$820
2 Bedrooms	$1,010
3 Bedrooms	$1,220
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,220	$235,578	0.52%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,804

Median Household Income

$65,060

Housing Units

1,020

Renter Percentage

27.1%

Occupancy Rate

73.8%

Renter Occupied

204

ZIP 28529, located in Pamlico County, NC, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 28529 in fiscal year 2024 is set at $1010, which exceeds the current market rent of $734. This creates a positive spread that ensures a landlord receives higher rental income than the local market rate, thus providing a reliable and above-average cash flow.

The median home value in ZIP 28529 is $192,976, indicating that the area is relatively affordable. While this figure is not directly related to rental income, it suggests that property acquisition costs are lower compared to areas with higher median home values. This affordability can be advantageous for investors looking to maximize their return on investment (ROI).

Although there is no specific data provided regarding the price-cut share and days on market (DOM), these metrics typically indicate the speed and ease with which properties sell. In ZIP 28529, the focus should remain on the cash-flow potential rather than the speculative appreciation play, given the significant difference between the FMR and the market rent.

The 27.1% renter share and median income of $65,060 suggest that while there is a substantial portion of renters, the income level is moderate. This combination supports the idea that ZIP 28529 is a solid choice for a cash-flow anchor because it has a sufficient number of potential tenants who can afford the Section 8 rent levels.

To further illustrate the strength of ZIP 28529 as a cash-flow anchor, consider the following:

Higher Rental Income: With the FMR at $1010, landlords can expect to receive a higher rental income than the local average of $734. This makes it easier to cover operational costs such as maintenance, insurance, and property taxes, leaving a healthy profit margin.
Affordable Property Prices: The median home value of $192,976 means that acquiring properties in this ZIP code can be done at a reasonable cost, allowing investors to build a diversified portfolio without overextending their capital.
Sustainable Tenant Base: The median income of $65,060 indicates that tenants can likely maintain stable employment and meet their financial obligations, reducing the risk of default and vacancy.

In conclusion, ZIP 28529 stands out as a cash-flow anchor due to the favorable spread between the FMR and market rent, along with the affordable property prices and sustainable tenant base. These factors make it an attractive option for landlords and small-portfolio investors seeking steady and reliable returns.

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.