Location: Ashe County, NC | Metro: Alleghany County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The ZIP code 28672 presents a unique market dynamic that frames it as an area in motion, particularly when viewed through the lens of the Section 8 program. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. This figure serves as a benchmark for rental prices within the ZIP code, indicating what the government deems a reasonable rent for a standard unit.
A critical aspect of understanding the market in 28672 is recognizing the absence of data on market rent, price-cut share, days on market (DOM), and median home value. This lack of data can suggest several things: either the market is relatively new or there is insufficient activity to generate reliable statistics. In such a scenario, the FMR becomes even more significant as it's the only concrete number available to gauge the rental market's health.
The 0.0% renter share is particularly noteworthy. It suggests that virtually all residents in 28672 own their homes rather than renting. This could imply a strong homeownership culture or that the area has seen significant growth in recent years, attracting more buyers than renters. However, it also indicates a potential long-term housing pressure point. With no residents participating in the rental market, any increase in demand for rentals would likely be met with limited supply, potentially driving up rents if the situation were to change.
In conclusion, ZIP 28672 appears to be a market with strong homeownership but lacking in current rental market data. Landlords and small-portfolio investors should closely monitor the FMR and other emerging indicators to understand how the market might evolve. The absence of renters could signal future opportunities as the market dynamics shift over time.
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.