Location: Ashe County, NC | Metro: Ashe County, NC
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 | $1,150 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $376,942 | 0.4% | F |
| 3BR | $1,990 | $492,754 | 0.4% | F |
U.S. Census Bureau data (2024)
7.8% of residents in ZIP 28626 (Fleetwood, NC) are renters, indicating a modest demand for rental properties. The market rent for the area, as per Census ACS data, stands at $1,270, which is slightly below the Fair Market Rent (FMR) of $1,340 set for metro areas in fiscal year 2026. This suggests that landlords can potentially charge close to the FMR without significantly deterring tenants. With a median home value of $410,169, it's evident that homeownership is relatively expensive, possibly pushing some residents towards renting. However, the median income of $73,675 implies that affordability could be a concern for many potential tenants. Despite this, the lack of available data on days on market (DOM) and the percentage of price-cut share indicates a stable market, with little fluctuation in property pricing or time needed to secure a tenant. For landlords and small-portfolio investors, these figures point to a balanced opportunity where careful consideration of rental pricing can maximize returns. Given the alignment between market rents and FMRs, along with the stable market indicators, ZIP 28626 presents a viable option for Section 8 participation.
The verdict for Section 8 participation in ZIP 28626 is positive, with the potential for landlords to receive rents at or near the $1,340 FMR threshold, making it a worthwhile investment opportunity despite the average income level of $73,675.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.