Location: Avery County, NC | Metro: Avery County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 28653 are renters, indicating a predominantly owner-occupied area where landlord investments might face challenges. Despite this, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950, which could still present opportunities for those willing to navigate the local market dynamics. The data does not provide specific figures for market rent or median home values, suggesting that these metrics may be less relevant or stable in this particular ZIP code. Additionally, the lack of detailed information on median income implies that financial stability among potential tenants cannot be accurately gauged from the available data. The days on market (DOM) figure is also missing, which would typically help investors understand how quickly properties are being sold or rented. Similarly, there's no percentage given for the share of homes that have had their prices cut, a metric that could indicate broader trends in property pricing and demand. In summary, while the $950 FMR provides a benchmark for rental pricing, the absence of other critical data points makes it difficult to assess the overall investment climate. Given the 0.0% renter share, landlords should proceed with caution unless they can identify specific niches or areas within ZIP 28653 that buck the trend towards homeownership. For Section 8 investors, the verdict is clear: the low renter share and limited data availability suggest this area is not favorable for Section 8 housing investments.
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.