Location: Pamlico County, NC | Metro: Pamlico County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
35,833 The median income in ZIP code 28587 underscores the economic context for rental properties. 23.5% A significant portion of residents are renters, indicating a robust demand for rental housing. 193,908 The median home value provides insight into the overall real estate market health and stability. 940 In fiscal year 2024, the Fair Market Rent (FMR) for ZIP 28587 is set at $940, which is a critical benchmark for landlords participating in the Section 8 program. This figure represents the maximum amount landlords can charge for rent under the program, ensuring affordability for low-income tenants while providing a predictable income stream for property owners.
While the median home value and median income suggest a middle-class community, the renter share highlights a significant segment of the population that relies on rental housing. This reliance on rental properties makes the Section 8 program particularly relevant for landlords in ZIP 28587. Although specific data on days on market (DOM) and the percentage of homes that had their prices cut is not available, the stable median home value and the established FMR indicate a consistent market environment.
The Section 8 program offers several advantages for landlords. It ensures timely rent payments through the government, reducing the risk of non-payment. Additionally, the program covers a substantial portion of the rent, making it attractive for both new and existing tenants who qualify. For small-portfolio investors, the predictability of rental income and the potential for long-term tenancy can be beneficial.
However, participation in Section 8 also comes with some considerations. Landlords must adhere to housing quality standards and undergo regular inspections. There may also be administrative tasks associated with maintaining Section 8 tenancy, such as submitting annual rent recertifications.
940 Given the FMR of $940, landlords can expect a steady income that aligns with the local rental market conditions. 23.5% With nearly a quarter of the population renting, there is a reliable pool of potential tenants who may benefit from the program. 193,908 The median home value suggests that property values are relatively stable, offering a secure investment environment for those considering joining the Section 8 program.
Overall, the Section 8 program presents a viable option for landlords in ZIP 28587, balancing the need for affordable housing with a stable source of rental income. Participation can be a strategic move for investors looking to tap into a consistent tenant base while contributing to the community's housing needs.
35,833 Verdict: The median income supports a strong case for landlords to consider Section 8, given the established demand and the financial guarantees the program offers.
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.