Location: Jones 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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $125,150 | 0.86% | C |
| 3BR | $1,440 | $223,791 | 0.64% | D |
| 4BR | $1,800 | $291,100 | 0.62% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 28573, which includes Pollocksville, North Carolina, stands at $63,554. At first glance, the market rent rate of $677 might seem manageable for a household earning this amount. However, when considering the entire financial picture, including other living expenses, it becomes evident that this rate places significant strain on local residents.
Comparatively, the Fair Market Rent (FMR) as determined by the Housing Choice Voucher program for fiscal year 2024 is set at $990. This figure represents the maximum amount that landlords can charge voucher holders and is significantly higher than the current market rate. The disparity between the median income and the voucher payment standard highlights an affordability gap for renters who do not qualify for or have access to voucher assistance.
With only 20.5% of the 1,874 population being renters, competition among landlords in this area is relatively low. However, the affordability gap means that many potential tenants might struggle to find housing they can afford without assistance. This situation could lead to a scenario where landlords who accept vouchers might secure longer-term, more stable tenancy compared to those who rely solely on cash-paying tenants.
For landlords, the decision to accept vouchers versus focusing on cash-paying tenants comes down to balancing short-term rental rates against long-term tenant stability. While accepting vouchers locks in a higher rent rate of $990, it also requires navigating the administrative processes associated with the Housing Choice Voucher program. On the other hand, relying on cash-paying tenants might limit rental income to the current market rate of $677, but it avoids the complexities of voucher administration.
The takeaway for landlords is clear: accepting vouchers can provide a guaranteed income stream above the market rate, potentially reducing turnover and vacancy risks. However, the choice should be made based on individual preferences for administrative involvement and the desire for a more predictable revenue model.
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.