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 analysis of ZIP code 28617 reveals a market that sits comfortably between high yield and stability. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which stands notably above the market rent of $757. This suggests a potential upside for landlords who can navigate the Section 8 program effectively, as they could potentially see rents closer to the FMR figure.
To further understand the dynamics of this ZIP code, we must consider the median home value, which is $318,134. Given this figure, it's evident that the property values are relatively high, indicating a middle to upper-middle-class residential area. However, the average household income of $62,204 provides a more nuanced view. While it supports the higher home values, it also implies that a significant portion of residents might rely on rental assistance programs such as Section 8.
A key indicator of stability is the percentage of renters, which is 24.7%. This figure is moderate, suggesting that while there is a notable presence of renters, homeownership remains prevalent. Unfortunately, the data does not provide the number of days on market (DOM), which would have helped gauge how quickly properties are typically leased in this area. Without this information, we cannot fully assess the speed at which units turn over, a critical factor for cash flow stability.
In conclusion, ZIP 28617 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The combination of a moderate renter population and a relatively high median home value points to an environment where landlords can expect consistent but not extraordinarily high returns. However, the potential to achieve rents close to the FMR of $930, compared to the current market rent of $757, offers a promising opportunity for those willing to engage with the Section 8 program.
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.