Location: Wilkes County, NC | Metro: Wilkes County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 28669 reveals several potential issues that could impact a landlord's decision to participate in the Section 8 program. Firstly, tenant turnover poses a significant challenge due to the difference between the market rent of $746 and the Fair Market Rent (FMR) of $930 for fiscal year 2026 in the metropolitan area. This gap can lead to frequent changes in occupancy as tenants seek to maximize their voucher benefits, causing instability in cash flow and increased costs associated with screening, moving, and maintenance.
Vacancy exposure is another concern, especially since the Days on Market (DOM) is listed as N/A, indicating a lack of data on how quickly rental properties are typically filled. This uncertainty can be problematic for landlords who need to ensure steady rental income. In ZIP 28669, where the typical home value is $209,068 and the median income is $47,358, there is a notable disparity that suggests a higher likelihood of deferred maintenance. Tenants with limited financial resources might struggle to keep up with the upkeep of the property, leading to increased repair costs and potential safety hazards.
However, these risks must be weighed against the 13.7% renter share in the area. High renter density often translates into a robust demand for housing vouchers, which can provide a reliable source of income for landlords. The presence of a large number of renters in ZIP 28669 indicates a strong pool of potential voucher holders, reducing the risk of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.