Location: Asheville, 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 |
|---|---|---|---|---|
| 2BR | $1,660 | $347,530 | 0.48% | F |
| 3BR | $2,010 | $431,828 | 0.47% | F |
U.S. Census Bureau data (2024)
In ZIP code 28753, which encompasses Marshall, North Carolina, in Madison County, the economics of Section 8 housing vouchers can be quite different from the broader market trends. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1320. This figure represents the maximum amount that a Section 8 voucher will cover for rent in this area. However, the local market rent for a similar unit is significantly lower, at $773 according to the latest Census ACS data.
The SAFMR rate of $1320 is the ceiling for what landlords can expect to receive from the voucher program. But it's important to understand how this works in practice. The voucher program reimburses landlords for the difference between the tenant's contribution and the SAFMR rate. The tenant's portion is typically 30% of their income, and they also have to pay for utilities, though there are allowances for these costs.
To illustrate, let's assume a tenant's income is such that their portion of the rent would be $400. The total reimbursement a landlord might receive would then be the tenant's $400 plus an additional $920 from the voucher program, totaling $1320. If the tenant's income is higher and their portion of the rent is closer to $773, the voucher program would cover less, but still up to the SAFMR cap of $1320.
Note that the SAFMR is specifically set for this ZIP code, meaning it reflects the unique economic conditions of Marshall, NC. This differs from rates set at a broader metro or county level, which do not account for such localized variations in rental prices.
In ZIP 28753, the typical reimbursement gap or surplus for a two-bedroom apartment is a surplus. Given the local market rent is $773, and the SAFMR is $1320, landlords participating in the Section 8 program for a two-bedroom unit would likely see a surplus of approximately $547 per month, assuming the tenant's portion of the rent is paid at the market rate. This surplus can be used to offset property management costs, maintenance expenses, or even as profit, making participation in the Section 8 program financially viable for landlords in this area.
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.