Location: Carteret County, NC | Metro: Carteret County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 28581, located in Carteret County, NC, reveals key insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,180. However, the lack of available market rent data makes it impossible to draw a direct comparison. This absence suggests that either market data is not well-documented or the area is less competitive, potentially allowing landlords to charge close to the FMR without significant resistance from tenants.
Regarding the affordability of acquisitions, the median home value stands at $252,236. Without specific data on the average days on market (DOM) and the percentage of homes needing price cuts, it's challenging to assess the overall competitiveness of the housing market. Nevertheless, the median home value indicates that the area remains within a moderate price range, which could be attractive for investors looking to acquire properties at reasonable costs.
The third question concerns tenant demand. With a population of 118 and a renter share of 13.2%, the pool of potential tenants is limited. This low number of renters implies a smaller market, but also potentially less competition among landlords. The small size of the population means that even minor changes in the local economy can significantly impact the rental market, making it essential for investors to stay informed about local trends.
Verdict: While the lack of market rent data introduces some uncertainty, the relatively moderate median home value and the presence of a small but steady tenant base make ZIP 28581 a viable investment option. The Fair Market Rent of $1,180 provides a clear guideline for pricing, and the limited competition among landlords could allow for stable occupancy rates. Investors should focus on properties that can attract the local renter demographic, ensuring they are positioned to capitalize on the opportunities presented by this niche market.
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.