Section 8 Fair Market Rent (FMR) for ZIP 28583 - 2027

FY 2027 Fair Market Rent Rates

The analysis of ZIP code 28583 reveals several key points for landlords and small-portfolio investors.

The rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the area, set at $1140 for fiscal year 2024, is the benchmark used by HUD for determining rental assistance payments. However, without specific data on market rents, it's impossible to determine if the FMR is above or below what tenants are willing to pay. This uncertainty makes it challenging to ensure profitability through rental income alone.

Acquisition affordability remains unclear due to the lack of specific data on the median home value, days on market (DOM), and the percentage of homes that have undergone price cuts. These metrics are crucial for understanding the local real estate market dynamics and assessing whether buying properties would be financially feasible for investors.

Tenant demand also cannot be accurately assessed without detailed information on the population size and the percentage of residents who are renters. These figures are essential for gauging the potential occupancy rates and the stability of rental income over time.

Verdict: ZIP code 28583 presents significant challenges for investment due to the absence of critical data points. Without concrete figures on market rents, median home values, DOM, price-cut shares, population size, and renter percentages, making informed decisions about profitability and demand is nearly impossible. Investors should seek additional research or consult local real estate professionals to fill these informational gaps before considering investments in this area.

Data Sources: FMR data from HUD (2027).

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.