Location: Jackson County, NC | Metro: Jackson County, NC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,390 |
| 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 market in ZIP code 28707 presents a dynamic scenario that is indicative of shifting housing pressures. With a Fair Market Rent (FMR) of $1,040 for the fiscal year 2026, it suggests that rental costs are expected to stabilize at this level, providing a benchmark for landlords and investors.
The median home value in 28707 is notably high at $301,138. This figure points towards a robust residential property market, likely attracting a mix of renters and buyers. However, the lack of specific data on market rent and days on market (DOM) makes it challenging to definitively state whether supply outpaces demand or vice versa. Nonetheless, the absence of these metrics could imply a balanced market or one where data collection is less consistent due to lower transaction volumes.
A key metric to consider is the 32.2% renter share, which indicates that over one-third of households in 28707 are renters. This percentage suggests a significant and persistent demand for rental properties, potentially signaling long-term housing pressure. As the population grows and evolves, the need for affordable rental options remains critical. Landlords and investors should be prepared to offer competitive rents to attract tenants, given the high median home value and the substantial portion of renters in the area.
The dynamics of 28707 reveal a market that is moving towards greater stability but with underlying tensions. The high median home value combined with a sizeable renter share implies that while homeownership is desirable, it may not be feasible for all residents, thus driving continued demand for rentals. For those looking to invest in the rental market, understanding the local economy and employment trends will be crucial to predicting future demand and maintaining occupancy rates.
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.