Location: Craven County, NC | Metro: Greenville, NC MSA
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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $131,528 | 0.82% | C |
| 3BR | $1,440 | $219,468 | 0.66% | D |
| 4BR | $1,800 | $309,976 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 28586, located in Vanceboro, NC, presents an interesting mix of yield and stability that can be analyzed for real estate investment opportunities, particularly for Section 8 landlords and small-portfolio investors.
Yield Analysis: The Fair Market Rent (FMR) for ZIP 28586 in fiscal year 2024 is set at $1,080, significantly higher than the average market rent of $770. This indicates a strong potential for higher rental income when leasing properties under the Section 8 program. Additionally, the median home value in the area is $198,784, which is relatively affordable compared to the FMR. These figures suggest a high-yield environment where Section 8 rents can provide a substantial return on investment.
Stability Analysis: Stability in this context is influenced by the percentage of renters, the typical number of days on the market (DOM), and the average household income. With 24.4% of residents being renters, the demand for rental properties is moderate but not overwhelming. The average household income of $57,041 provides insight into the economic health of the area, indicating that while it's not exceptionally high, it supports a stable tenant base. Unfortunately, the data does not provide the number of days on the market, which would have been useful for assessing the speed of property turnover and the overall market activity.
Based on these figures, ZIP 28586 appears to be a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher Section 8 rent of $1,080 ensures a solid cash flow, especially given the lower market rent of $770. However, the relatively low percentage of renters and the moderate household income suggest a level of stability that supports long-term investment strategies over quick flips. For landlords and small-portfolio investors looking for consistent returns without the risks associated with highly volatile markets, Vanceboro offers a promising opportunity.
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.