Section 8 Fair Market Rent (FMR) for ZIP 28711 - 2027

Location: Rutherford County, NC | Metro: Asheville, NC MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,430
1 Bedroom	$1,660
2 Bedrooms	$1,810
3 Bedrooms	$2,150
4 Bedrooms	$3,000
5 Bedrooms	$3,480
6 Bedrooms	$3,898
7 Bedrooms	$4,210
8 Bedrooms	$4,421

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

12,663

Median Household Income

$74,761

Housing Units

7,351

Renter Percentage

28.3%

Occupancy Rate

69.5%

Renter Occupied

1,445

Housing Authorities Serving ZIP 28711

Housing Authority of the City of Asheville (Asheville, NC) - 3,423 Section 8 vouchers
Isothermal Planning & Development Commission (Rutherfordton, NC) - 1,433 Section 8 vouchers
WNCSource (Hendersonville, NC) - 667 Section 8 vouchers
Forest City Housing Authority (Forest City, NC)
Hendersonville Housing Authority (Hendersonville, NC)

Black Mountain, NC, located in ZIP code 28711, is a picturesque mountain town that offers both scenic beauty and access to urban amenities. The area's appeal to residents and visitors alike makes it a viable option for real estate investment, particularly for those interested in the Section 8 housing market.

The Fair Market Rent (FMR) for ZIP 28711 in fiscal year 2024 is set at $1,460, providing a benchmark for rental rates that qualify under the Section 8 program.
The actual market rent, as indicated by Zillow's ZORI index, stands at $1,934, reflecting the higher demand for rentals in this desirable location.
The median home value in Black Mountain is $472,148, indicating a stable and somewhat affluent residential market.
Renters make up 28.3% of the population, suggesting a significant portion of the community relies on rental properties, including those supported by Section 8 vouchers.
The median household income in the area is $74,761, which can be used to gauge the financial stability of potential tenants and their ability to afford housing costs.

Investors looking to enter the Black Mountain rental market should note the disparity between the Fair Market Rent and the actual market rent, indicating a potential opportunity for properties that offer quality living spaces at rates above the FMR but still attractive to voucher holders. The median home value suggests a market where property appreciation could be a realistic expectation, while the median income figure provides assurance regarding the financial health of the tenant pool. Given the 28.3% renter share, there is a substantial demand for rental units, making it a favorable environment for landlords and small-portfolio investors seeking steady returns.

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.