Location: Asheville, NC | Metro: Asheville, NC MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
The ZIP code 28724 is located in Dana, North Carolina, within Henderson County. The demographic data for this area is limited, but we can still build a profile for investors interested in Section 8 properties.
Based on the available information, the total population and median income figures are not provided. However, it is noted that there are 416 delivery points, which include both residential and business addresses. While specific percentages for renters are not given, the presence of delivery points suggests a mix of housing types, including rental properties.
Moving to the economic landscape, the Fair Market Rent (FMR) for ZIP code 28724 is set at $1560 for fiscal year 2024. This figure represents the average rent for a standard two-bedroom apartment, which is used to determine the maximum allowable rent for Section 8 vouchers. Unfortunately, the market rent data is not provided, making direct comparisons challenging. However, the FMR serves as a guideline for setting rental rates for subsidized units.
Given the lack of detailed demographic and economic data, ZIP code 28724 would likely be a better fit for hands-off voucher operators rather than hands-on value-add buyers. The absence of comprehensive statistics makes it difficult to assess potential for significant improvements or renovations that could increase property value. For hands-off operators, the focus should be on maintaining properties to meet Section 8 standards while receiving stable rental income through the voucher program.
To make informed decisions, investors should consider supplementing the available data with local insights, such as speaking with real estate agents or local government officials, to gain a clearer picture of the neighborhood's dynamics and potential investment opportunities.
Data Sources: FMR data from HUD (2027).
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.