Location: Wilkes 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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $331,877 | 0.3% | F |
| 3BR | $1,320 | $430,831 | 0.31% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 28640, which includes Jefferson, North Carolina, is set at $930 per month for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning that if you participate in the program, this is the maximum amount the Housing Authority will pay on behalf of your tenant. However, it's important to note that this is not the amount you can charge as rent; you must adhere to the limits set by the voucher program.
In comparison, the average rent in ZIP 28640 is currently $797 per month according to the latest Census American Community Survey data. This indicates that the FMR is higher than the typical market rate, potentially providing a slight financial advantage to landlords who join the Section 8 program.
With a renter share of 27.8%, there is a significant portion of the population in Jefferson looking for rental properties. This suggests a steady demand for rentals, including those through the Section 8 program. However, the acquisition cost of a property in this area averages around $360,022, so careful consideration of long-term investment value is essential.
Before deciding to take on a Section 8 rental, one crucial step is to verify that your property meets all the required inspection standards. The Housing Authority conducts thorough inspections to ensure that units are safe and habitable. Ensuring compliance with these standards upfront can prevent delays and additional costs.
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.