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 | $1,030 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,770 | $388,848 | 0.46% | F |
U.S. Census Bureau data (2024)
ZIP code 28643, located within the Ashe County, NC metro area, presents a unique profile when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for the area is set at $1,320 for fiscal year 2026, which is higher than the market rent figure of $997. This indicates that the government's estimate of reasonable rental costs is above what the local market is currently charging.
The median home value in ZIP 28643 stands at $283,441, which is likely reflective of the overall housing market conditions in Ashe County. However, it's worth noting that this value is influenced by various factors including the mix of property types and the general economic conditions of the area.
The renter share in 28643 is 22.0%, slightly above the average for many rural areas but not necessarily unusual for Ashe County. A higher-than-average renter share combined with a market rent that is below the metro-wide FMR suggests that this ZIP code could be attractive for landlords and small-portfolio investors looking for properties that offer a good balance between affordability and government-subsidized rental income.
Given the specific figures, ZIP 28643 appears to be a mid-tier neighborhood within the Ashe County, NC metro. It isn't a premium sub-market due to the relatively lower market rent compared to the FMR, nor is it a value pocket given its home values are in line with what might be expected for the area. However, the divergence between the FMR and the actual market rent, coupled with a decent renter share, implies that there is potential for landlords to secure steady income through Section 8 tenancy without significantly undervaluing their properties.
To summarize, the combination of a below-FMR market rent and a 22.0% renter share makes ZIP 28643 a noteworthy area for those interested in Section 8 investments. While not necessarily the most affordable or the most expensive, it offers a strategic middle ground where investors can find opportunities that align well with government rental assistance programs.
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.