Location: Haywood 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $253,600 | 0.65% | D |
| 3BR | $2,010 | $332,466 | 0.6% | D |
| 4BR | $2,780 | $374,624 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 28716, encompassing Canton, NC, presents a dynamic real estate market that is currently balanced but leans towards demand slightly outpacing supply. This inference is drawn from the comparison between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 28716 stands at $1320 for fiscal year 2024, while the Census ACS reports the market rent at $988. This discrepancy suggests that landlords can potentially increase their rents without significantly impacting occupancy rates, indicating a slight edge in tenant demand over available rental units.
The low price-cut share of 0.2% further supports this conclusion. In a market where supply exceeds demand, landlords might be more inclined to lower their asking prices to attract tenants. However, in Canton, the minimal need for price adjustments implies that properties are being rented at or near their listed values, signaling a competitive rental environment.
The median home value in Canton is $287,516, which is a critical figure for both landlords and small-portfolio investors. It reflects the overall property valuation in the area, suggesting that investments in residential properties could yield solid returns, especially considering the rental dynamics.
A 23.6% renter share in Canton indicates a significant portion of the population that relies on rental housing. This statistic points to ongoing long-term housing pressure, as a substantial number of residents are likely seeking stable, affordable rental options rather than purchasing homes. For landlords, this means a steady pool of potential tenants, reducing the risk of vacancies. For small-portfolio investors, it suggests that focusing on rental properties could be a strategic move, given the sustained demand for rentals.
In summary, Canton's real estate market is characterized by a slight imbalance favoring demand, particularly in the rental sector. The relatively high FMR compared to the actual market rent, combined with a low price-cut share, paints a picture of a market where landlords have some flexibility in pricing. The significant renter share highlights the importance of rental properties in the local housing landscape, offering a consistent opportunity for investment and management.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.