Location: Hickory-Lenoir-Morganton, NC | Metro: Hickory-Lenoir-Morganton, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
The analysis of ZIP code 28661 within the Hickory-Lenoir-Morganton, NC MSA reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math in ZIP 28661 does not provide a clear comparison due to the lack of available market rent data. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $920. Without specific market rent figures, it's challenging to assess whether this FMR accurately reflects the local rental environment.
Secondly, the acquisition affordability in ZIP 28661 cannot be definitively assessed due to missing data on median home values, days on market (DOM), and the percentage of homes that experience price cuts. These metrics are crucial for understanding the ease and cost of acquiring properties in the area.
Thirdly, the tenant demand in ZIP 28661 is also unclear without specific population and renter share percentages. This information would help gauge the number of potential tenants and their likelihood of renting rather than owning.
Verdict: While ZIP 28661 offers a defined FMR of $920, the absence of critical data points such as market rent, median home value, DOM, price-cut share, population, and renter share makes it difficult to provide a comprehensive analysis. Landlords and small-portfolio investors should seek out detailed local real estate and demographic reports to make informed decisions about investment opportunities in this area. The current dataset does not support a thorough assessment of the financial viability of rental properties or property acquisitions in ZIP 28661.
Data Sources: FMR data from HUD (2027).
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.