Location: Lenoir County, NC | Metro: Greene 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $122,677 | 0.82% | C |
| 3BR | $1,260 | $186,040 | 0.68% | D |
| 4BR | $1,530 | $253,383 | 0.6% | D |
U.S. Census Bureau data (2024)
A landlord considering investing in ZIP code 28580, Snow Hill, NC, for Section 8 properties must navigate several key factors to make an informed decision. The first step is to evaluate if the Fair Market Rent (FMR) of $930 can cover the debt service on a property valued at $179,638. This requires knowing the specific debt service amount, which includes mortgage payments, taxes, insurance, and maintenance costs. If the total debt service is less than $930 per month, then the answer is yes, FMR clears debt service. However, if the debt service exceeds $930, the answer is no, making it financially unviable without additional income sources.
The second consideration is comparing the market rent of $830 to the FMR. Here, the market rent is below the FMR, indicating that Section 8 tenants could potentially pay more than what the average market rent suggests. This makes the area attractive for landlords seeking stable rental income.
The third factor involves assessing the rental demand. With 36.3% of residents being renters and the days on market (DOM) status marked as N/A, the analysis hinges on the percentage of renters. A significant portion of the population renting suggests high demand, but without specific DOM data, it's challenging to gauge how quickly properties can be leased. If the high percentage of renters translates into quick leasing times, the answer is yes, there is enough demand. Otherwise, it depends on the local housing market dynamics and the landlord's ability to manage vacancies.
To summarize:
Landlords should also consider other aspects such as the availability of Section 8 vouchers, the administrative burden of managing Section 8 properties, and any local regulations affecting rental properties in Snow Hill, NC.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.