Section 8 Fair Market Rent (FMR) for ZIP 28815 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 28815 in Unknown, NC, presents a market in motion, characterized by the snapshot of current conditions. The Fair Market Rent (FMR) for the area stands at $1750 for the fiscal year 2024, indicating the baseline rental price set by HUD for the area. While the specific market rent remains unspecified, the absence of data on price-cut share and days on market (DOM) suggests that landlords in this area are not frequently having to reduce their asking prices or wait extended periods for tenants. This inference points towards a market where demand is likely keeping pace with, if not slightly outpacing, supply.

A notable absence in the data is the median home value, which could imply a variety of factors, including a high proportion of rentals over owner-occupied homes. However, the lack of a specified percentage of renter share also means we cannot definitively conclude the long-term housing pressures. Despite these gaps, the fact that HUD has established an FMR suggests there is a significant enough rental population to warrant such a figure, hinting at a stable rental market.

In a broader context, the dynamics of ZIP 28815 suggest a balanced market. Landlords can expect steady occupancy rates without the need for frequent concessions. Small-portfolio investors should be cautious about relying solely on FMR as a benchmark, since it represents a minimum threshold rather than the actual market rate. Understanding the local economy, employment opportunities, and demographic trends will provide deeper insights into the potential for rental growth and stability.

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.