Location: Jacksonville, NC | Metro: Jacksonville, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
The analysis of ZIP code 28541, part of the Jacksonville, NC MSA metro area, reveals key insights into its viability for Section 8 real estate investments.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 28541 in fiscal year 2024 is set at $1270. However, the market rent for the area is currently unknown, making it difficult to directly compare the two figures. Landlords should consider that FMRs are typically lower than market rents, which could mean that properties rented through Section 8 might be slightly less profitable compared to market-rate rentals.
Regarding the affordability of property acquisitions, the median home value in the area is not available, nor is the average number of days on the market (DOM) or the percentage of homes requiring price cuts. Without these specifics, it's challenging to assess how competitive the market is for potential purchases. Landlords should conduct thorough research or consult local real estate agents for current pricing trends and market conditions.
Tenant demand in ZIP 28541 is also uncertain due to unavailable population and renter share data. This lack of information makes it difficult to gauge the number of potential tenants who might be interested in Section 8 housing. A stable tenant base is crucial for long-term investment success, so understanding the demographic makeup of the area would be beneficial.
In conclusion, while the Fair Market Rent for ZIP 28541 is established at $1270, the absence of critical data points such as market rent, median home value, DOM, price-cut share, population, and renter share makes a comprehensive assessment challenging. Landlords and small-portfolio investors must rely on additional local market intelligence to determine if the area is suitable for Section 8 investments. The lack of specific figures suggests that further investigation is necessary before committing to any acquisitions in this region.
Data Sources: FMR data from HUD (2027).
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.