Location: Iredell County, NC | Metro: Iredell County, NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,260 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
ZIP 28688 encompasses the small town of Turnersburg, located in Iredell County, North Carolina. The area lacks detailed demographic information, but it is known for its rural charm and tight-knit community.
The median household income in ZIP 28688 is $42,118, reflecting the modest financial means of residents. The median home value stands at $120,000, indicating that homeownership is accessible to many local families. Approximately 53% of the housing units are occupied by renters, suggesting a significant portion of the population relies on rental properties.
From an investment perspective, the Fair Market Rent (FMR) for ZIP 28688 is set at $1210 for fiscal year 2024, which aligns well with the local rental market. This makes the area suitable for Section 8 voucher holders who can find affordable housing options within the range of their vouchers.
Given the characteristics of Turnersburg, it would be most appropriate for a hands-off voucher operator rather than a hands-on value-add buyer. The town's modest income levels and rental market suggest a stable demand for affordable housing without the need for extensive property improvements or renovations.
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.