Location: Craven County, NC | Metro: Craven County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
U.S. Census Bureau data (2024)
The ZIP code 28533 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, as the market rent is not specified but the Fair Market Rent (FMR) for FY 2024 is set at $1360. This can lead to fluctuations in occupancy rates and financial instability. Vacancy exposure is another issue, given that the days on market (DOM) is unspecified, making it difficult to predict how long a unit might remain vacant between tenants. Additionally, there is a risk of deferred maintenance, as both the typical home value and median income are not provided, indicating potential financial constraints that could affect property upkeep.
However, these risks are somewhat mitigated by the high concentration of renters in the area. The percentage of renters in ZIP 28533 is not specified, but a high renter share typically translates into higher demand for rental properties, including those that accept Section 8 vouchers. This demand can help ensure steady occupancy rates and reduce the impact of tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). 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.