Location: Carteret County, NC | Metro: Carteret County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The ZIP code 28575 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be problematic, especially when comparing the non-disclosed market rent to the $1,170 Fair Market Rent (FMR) for the fiscal year 2026, which applies to the metropolitan area. This discrepancy might lead to higher tenant churn rates, as tenants may prefer to move to areas where they can find better deals or more suitable living conditions.
Vacancy exposure is another significant risk. With the days on market (DOM) undisclosed, it's difficult to gauge how quickly properties in this area will fill up once vacated. High DOM values could indicate a slow rental market, leading to prolonged vacancies and reduced income for landlords.
Deferred maintenance is also a concern. The lack of disclosed data on typical home values and median incomes suggests that many residents may not have the financial means to keep their homes in optimal condition. This could result in increased repair costs and maintenance demands for landlords, further impacting profitability.
Despite these risks, the high renter share of 15.7% in ZIP 28575 indicates a robust demand for rental housing, including units that accept Section 8 vouchers. A larger pool of potential tenants usually translates into higher competition for available housing, which can stabilize occupancy rates and reduce the impact of vacancy periods.
Verdict: Moderate risk for a first-time Section 8 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.