Location: Yancey County, NC | Metro: Asheville, NC MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,300 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,510 | $218,396 | 0.69% | D |
| 2BR | $1,660 | $257,518 | 0.64% | D |
| 3BR | $2,010 | $346,776 | 0.58% | F |
| 4BR | $2,780 | $578,299 | 0.48% | F |
| 5BR | $3,225 | $721,332 | 0.45% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 28714, Burnsville, NC, is characterized by a significant disparity between the Fair Market Rent (FMR) set by HUD and the actual market rents reported by the Census Bureau's American Community Survey (ACS). For fiscal year 2024, HUD has established an FMR of $1470 for the area, while the ACS reports that the average market rent stands at $859. This means that landlords who participate in the Section 8 program can expect to cashflow comfortably when renting out their properties at the HUD FMR rate.
To further analyze the investment potential, consider the median home value in the area, which is $318,962. By comparing the HUD FMR of $1470 to this median home value, we find that the rent-to-price ratio is approximately 0.5%, indicating a strong rental yield relative to property values. This suggests that even if market rents were to rise, the current FMR provides a substantial buffer for landlords.
In terms of the days on market (DOM) and the percentage of homes that require price cuts, these metrics are not applicable for rental analysis but are important for understanding the broader real estate market. The N/A-day median DOM and 0.1% price-cut share indicate a stable housing market where homes do not typically sit unsold for long periods nor require frequent price reductions. While these figures are more relevant to homeownership, they do provide context for the overall stability of the local real estate market.
The strongest angle for Section 8 investors in ZIP 28714 is cashflow. With the HUD FMR well above the market rent, landlords can secure a steady income stream without the need for premium units. This makes Burnsville an attractive location for those looking to invest in affordable housing while ensuring financial viability through government subsidies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.