Location: Ashe County, NC | Metro: Ashe County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The ZIP code 28615 presents a significant opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 1,878, nearly one-quarter (26.7%) of residents are renters, indicating a robust tenant base that could be well-suited for housing voucher programs. The median household income stands at $51,653, which provides a critical benchmark against which rental costs can be measured.
The average market rent of $730 in ZIP 28615 represents approximately 14.1% of the median household income when calculated on an annual basis. This figure suggests that typical rents are relatively affordable compared to the income levels of local residents. However, it's important to note that the Federal Market Rent (FMR) for the metro area, set at $930 for FY 2026, is higher than the current market rent. This discrepancy indicates that the local rental market may have room to grow, aligning more closely with federal standards as economic conditions improve.
Landlords in ZIP 28615 should anticipate a tenant pool that is heavily reliant on housing vouchers. Given the income levels and the proportion of renters, it is likely that many residents would qualify for Section 8 assistance. To attract and retain these tenants, landlords must ensure their properties meet the necessary requirements for voucher acceptance, including passing inspection standards and adhering to fair housing practices.
The expected tenant profile in this ZIP code includes individuals and families who benefit from financial assistance to cover their housing costs. These tenants will often be looking for stable, affordable housing options. Landlords should prepare for a steady demand for rental units that offer reasonable rents and are willing to accept Section 8 vouchers. This preparation includes understanding the intricacies of working with the housing authority and being ready to provide documentation that meets the criteria for voucher usage.
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.