Location: Greene County, NC | Metro: Greene County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
In ZIP code 28554, the Section 8 program operates under specific financial guidelines that affect how much landlords can expect to receive from vouchers. The SAFMR (Section 8 Area FMR) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $930. This figure represents the maximum amount that the federal government will pay towards the rent of a qualifying unit in this area.
The SAFMR is calculated based on the local housing market conditions and is intended to reflect the average fair market rent for the area. However, it's important to note that the local market rent is currently not available, which means we cannot compare the SAFMR directly to the actual rental rates in the area. This absence of local market rent data can make it challenging to assess the economic viability of renting to Section 8 tenants, but the SAFMR provides a clear benchmark for the maximum subsidy.
When a tenant uses a Section 8 voucher, they are responsible for paying a portion of the rent themselves, typically around 30% of their income. In addition to the base rent, there are utility allowances that vary by region and can be added to the total reimbursement. For ZIP 28554, these allowances would be factored into the overall payment, but without specific local market rent figures, we can only use the SAFMR to estimate the total reimbursement.
To illustrate, if the tenant's portion of the rent is $300 and the utility allowance is $100, the total reimbursement to the landlord would be $930 (SAFMR) + $100 (utility allowance) - $300 (tenant contribution) = $730 per month. This calculation shows the net effect on the landlord's income when renting to a Section 8 tenant.
The reimbursement gap or surplus is determined by comparing the total reimbursement amount (including the tenant's contribution and utility allowances) to the actual market rent of the property. Since the local market rent for ZIP 28554 is not available, we must rely on the SAFMR as our reference point. Assuming the market rent aligns closely with the SAFMR, the typical reimbursement gap for a two-bedroom apartment would be the difference between the market rent and the total reimbursement. If the market rent were higher than $930, landlords would face a gap that they would need to cover themselves or negotiate with the tenant.
In conclusion, for ZIP 28554, landlords should anticipate receiving a total of $730 per month for a two-bedroom apartment when a tenant uses a Section 8 voucher, assuming the tenant contributes $300 and the utility allowance is $100. This leaves a potential reimbursement gap of $200, unless the market rent is lower than the SAFMR, in which case there would be no gap and potentially a surplus for the 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.