Location: Jacksonville, NC | Metro: Jacksonville, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
The median income in ZIP 28547 stands at $67,588, indicating a moderate financial standing among households. The market rate for rent, according to the Census ACS, is $1,473 per month. This figure represents a significant portion of the average household's income, making it challenging for residents to afford housing without financial assistance.
In comparison, the Fair Market Rent (FMR) set by the government for voucher payments in ZIP 28547 for fiscal year 2024 is $1,620. This amount is slightly higher than the market rate but still manageable for those receiving vouchers. It suggests that voucher holders have an advantage in affording decent housing compared to non-voucher holders who must pay the market rate.
With 100.0% of the 21,346 population being renters, the competition for rental properties is fierce. Landlords in this area face a high demand for affordable housing, which can lead to challenges in maintaining occupancy rates if rents exceed what most households can afford.
The affordability gap means that landlords must carefully consider their pricing strategies. While setting rents at the market rate of $1,473 could attract some cash-paying tenants, it risks leaving units vacant due to the high proportion of low-income households. On the other hand, accepting voucher payments at the FMR of $1,620 ensures steady occupancy and a reliable source of income, albeit with the administrative complexity of working with the voucher program.
Takeaway: For landlords and small-portfolio investors in ZIP 28547, prioritizing voucher acceptance can be a strategic move. It guarantees a consistent income stream and helps fill units in a highly competitive rental market. However, they should also be prepared to handle the paperwork and regulations associated with voucher programs.
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.