Section 8 Fair Market Rent (FMR) for ZIP 28793 - 2027

FY 2027 Fair Market Rent Rates

The analysis of ZIP code 28793 within the Asheville, NC MSA reveals several key points for landlords and small-portfolio investors.

Firstly, the rent math does not work effectively due to insufficient data on market rent. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1560, but without a comparison figure for the actual market rent, it's challenging to determine if this rate aligns with what tenants are willing to pay.

Secondly, the acquisition affordability cannot be assessed accurately because the median home value is unknown, as well as the days on market (DOM) and the percentage of homes that require price cuts. These figures are crucial for understanding the local housing market dynamics and the potential cost of acquiring properties.

Lastly, tenant demand is also uncertain given the lack of specific population and renter share data. Without these numbers, it's impossible to gauge how many people might be looking for rental properties in this area.

In summary, while the Fair Market Rent for ZIP 28793 is established at $1560 for fiscal year 2024, the absence of critical data points such as market rent, median home values, days on market, price-cut percentages, population size, and renter share makes it difficult to provide a comprehensive assessment of the viability of investing in this region. More detailed and up-to-date information would be necessary to make informed decisions about rental investments and property acquisitions.

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.