Location: Rutherford 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 |
|---|---|---|---|---|
| 1BR | $1,510 | $142,365 | 1.06% | B |
| 2BR | $1,660 | $369,902 | 0.45% | F |
| 3BR | $2,010 | $537,870 | 0.37% | F |
| 4BR | $2,780 | $811,603 | 0.34% | F |
| 5BR | $3,225 | $1,101,168 | 0.29% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 28746, which encompasses Lake Lure, North Carolina, presents a dynamic environment where demand appears to be on par with or slightly exceeding supply. This inference is drawn from the snapshot of key indicators: the Fair Market Rent (FMR) stands at $1,370, while the actual market rent, measured by Zillow's ZORI, is $1,500. The slight premium that market rents hold over the FMR suggests that there is a positive demand trend, as tenants are willing to pay above the government benchmark rate.
A critical factor in assessing the balance between supply and demand is the price-cut share, which is currently at 0.1%. This low figure indicates that very few properties are being reduced in price, suggesting that listings are selling close to their original asking prices. While the days on market (DOM) data is not available, the low price-cut share implies a brisk sales pace, further supporting the notion that demand is robust.
The median home value in the area is $443,784. This figure provides context for the overall economic health of the market and the purchasing power of residents. It also serves as a reference point for potential investment returns, as higher home values generally correlate with higher property appreciation and rental income potential.
The 11.3% renter share, while seemingly modest, signals a significant segment of the population who prefer or require rental accommodation. In the long term, this percentage can indicate housing pressure, as it reflects the proportion of individuals who are not homeowners. A higher renter share often points towards a persistent need for rental units, which can benefit landlords and small-portfolio investors looking for steady rental income.
In summary, the current snapshot of ZIP 28746 reveals a market where demand is likely matching or slightly surpassing supply, evidenced by the premium market rents command over the FMR and the minimal instances of price reductions. The median home value and renter share provide additional insights into the economic landscape and the ongoing need for rental properties, making it an attractive market for those interested in the rental sector.
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.