Location: Pamlico County, NC | Metro: Craven County, NC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $900 | $216,134 | 0.42% | F |
| 2BR | $1,170 | $168,319 | 0.7% | D |
| 3BR | $1,540 | $276,682 | 0.56% | F |
| 4BR | $1,860 | $354,900 | 0.52% | F |
| 5BR | $2,158 | $410,221 | 0.53% | F |
U.S. Census Bureau data (2024)
ZIP code 28560, located in New Bern, NC, falls within the broader Pamlico County, NC metro area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1190, which is notably lower than the market rent of $1,595. This discrepancy suggests that 28560 could be considered a value pocket within the metro, offering rental properties at a subsidized rate compared to the actual market conditions.
The median home value in ZIP 28560 is $268,057. While this figure is not explicitly provided for comparison against other ZIP codes within Pamlico County, it can be inferred that if the average home value in the county is higher, then 28560 offers relatively affordable housing options for both owners and renters. The significant 30.5% renter share indicates a substantial portion of residents are renting, which aligns with the ZIP code being a potential sweet spot for Section 8 housing. A high renter share combined with below-average home values often signifies an area where subsidized housing programs can find suitable units at reasonable rates.
To determine if 28560 is indeed a value pocket, a mid-tier neighborhood, or a premium sub-market, further analysis of the county-wide metrics would be required. However, based on the given data, it is evident that 28560 stands out as a value pocket due to its lower FMR and potentially more affordable home values relative to market rents. This makes it particularly attractive for landlords and small-portfolio investors looking to participate in the Section 8 program, as they can offer units at the subsidized rate while still benefiting from the actual market demand.
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.