Location: Carteret County, NC | Metro: Carteret 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 | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $248,197 | 0.47% | F |
| 3BR | $1,470 | $333,561 | 0.44% | F |
| 4BR | $1,950 | $486,799 | 0.4% | F |
| 5BR | $2,262 | $626,410 | 0.36% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 28570 in Newport, NC, reveals several key points that should be considered. The HUD Fair Market Rent (FMR) for the area, as of fiscal year 2026, is set at $1,130 per month. This figure represents the maximum amount that a landlord can charge for a voucher tenant under the Section 8 program.
In contrast, the Zillow Observed Rent Index (ZORI) for the same area stands at $27,847 annually, which translates to approximately $2,320 per month. This indicates that voucher tenants would cashflow marginally at the HUD FMR rate, as it is significantly below the market rent. Landlords would need to focus on maintaining costs to ensure profitability when accepting Section 8 vouchers.
The median home value in ZIP 28570 is $346,637. Using the annual ZORI of $27,847, we can calculate the rent-to-price ratio, which comes out to roughly 7.9%. This suggests that the rental income is relatively low compared to the purchase price of homes, indicating that appreciation rather than cashflow might be the stronger investment angle.
Additionally, the median Days on Market (DOM) is 53 days, and the share of listings that experienced a price cut is 0.2%. These figures indicate a stable rental market where properties are generally sold quickly without significant price adjustments. However, these metrics do not directly impact the rent-vs-buy dynamics but suggest a healthy real estate market overall.
The strongest investor angle in ZIP 28570 appears to be stability, given the quick sale times and low price-cut share, which can provide a reliable and predictable income stream for landlords and small-portfolio investors.
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.