Location: Transylvania 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 | $242,531 | 0.62% | D |
| 2BR | $1,660 | $323,315 | 0.51% | F |
| 3BR | $2,010 | $476,900 | 0.42% | F |
| 4BR | $2,780 | $718,641 | 0.39% | F |
| 5BR | $3,225 | $923,058 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 28739, located in Hendersonville, NC, within the broader context of the Transylvania County, NC metro area, presents a unique profile when compared to typical ZIP codes in the region. With an FMR (Fair Market Rent) of $1510 for fiscal year 2024, it stands notably higher than the market rent figure of $1,127. This indicates that the rental market in 28739 is more favorable for landlords seeking to receive above-average rents, especially those participating in the Section 8 program.
The median home value in ZIP 28739 is $457,963, which suggests a moderate price point relative to other areas within the county. However, the 21.7% renter share in this ZIP code is significantly higher than the national average and may indicate a concentration of renters who rely on government assistance such as Section 8 vouchers. This higher renter share combined with below-average home values can be a sign of a potential Section 8 sweet spot, where properties are affordable enough for subsidized renters but still command decent rental prices.
To determine if ZIP 28739 is a value pocket, mid-tier neighborhood, or a premium sub-market, we must consider the interplay between its FMR, market rent, and home values. Given the FMR is substantially higher than the market rent, it suggests that there is room for landlords to charge higher rents within the bounds of what is considered fair by HUD standards. The relatively low median home value also supports the idea that this ZIP code could be attractive for investors looking to purchase properties at a lower cost while still being able to rent them out at a reasonable price.
Based on the provided data, ZIP 28739 appears to be a mid-tier neighborhood within the Transylvania County, NC metro area. It offers a balance between property affordability and the potential to earn above-average rents, particularly through Section 8 participation. Landlords and small-portfolio investors should take note of the high renter share and the possibility of leveraging Section 8 vouchers to secure tenants and achieve steady rental income.
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.