Location: Haywood County, NC | Metro: Asheville, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
U.S. Census Bureau data (2024)
The ZIP code 28715, located in Candler, NC within Buncombe County, stands out due to its relatively high median home value of $414,570 and a median income of $71,716 among its 30,328 residents. With 24.1% of the population renting, the area has a mix of homeowners and renters, creating a balanced real estate market.
The economic landscape for Section 8 vouchers in Candler is favorable for landlords. The Fair Market Rent (FMR) for ZIP 28715 for fiscal year 2024 is set at $1,570, which is below the market rate of $1,823 as indicated by the Zillow Observed Rent Index (ZORI). This means that landlords participating in the Section 8 program can still attract tenants willing to pay slightly above the voucher amount, ensuring a steady stream of rental income without significant financial strain.
The data signature of ZIP 28715 suggests a stable environment. The median home value and median income indicate a middle-class community with a reasonable cost of living. Additionally, the discrepancy between the FMR and ZORI implies that the housing market is robust enough to support both government-assisted and market-rate rentals. This stability is beneficial for small-portfolio investors and landlords looking for consistent returns and manageable risk.
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.