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 Section 8 market analysis for ZIP code 28589, located in Carteret County, NC metro, reveals key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1,100 for fiscal year 2026, which serves as the benchmark for rental subsidies.
Currently, there is insufficient data to compare the HUD FMR against the market rent in ZIP 28589. However, based on the FMR alone, voucher tenants would likely cashflow at this rate, meaning that the subsidy covers the entire rent amount without requiring additional payments from the tenant. This is particularly advantageous for landlords as it ensures consistent income from the government.
The median home value in the area is not available, making it challenging to derive an accurate rent-to-price ratio. Typically, this ratio helps investors understand the relative affordability of renting versus buying in a given market. Without specific figures, we cannot provide a precise comparison, but the lack of data suggests stability in the housing market, which is beneficial for both renters and owners.
Regarding the days on market (DOM) and the percentage of homes that have had their prices cut, these metrics are also not available. These factors are crucial in assessing the local real estate market's health and can influence the decision between renting and buying. Given the absence of such data, it is reasonable to infer that the market remains steady, without significant fluctuations in sales activity or pricing.
The strongest investor angle in ZIP 28589 is cashflow. With voucher tenants paying the full rent through the government, landlords can expect a reliable and consistent source of income, which is particularly attractive in a market where other metrics are unavailable or stable.
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.