Location: Cherokee County, NC | Metro: Cherokee County, NC
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 | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $259,726 | 0.44% | F |
| 3BR | $1,510 | $285,044 | 0.53% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 28905, located in Marble, NC, indicate a market where demand closely follows supply, but leans slightly towards favoring tenants. The Fair Market Rent (FMR) set at $1,050 for the fiscal year 2026 suggests that rental prices are expected to be stable and modest. Currently, the market rent stands at $1,013, based on Census ACS data, which is slightly below the FMR, indicating that landlords have some flexibility in pricing but are also close to the benchmark.
The low price-cut share of 0.2% implies that most properties are being sold at or near their asking price, without significant discounts. This could suggest that sellers are finding buyers willing to meet their price expectations, though the lack of days on the market (DOM) data makes it difficult to conclusively state the speed at which homes are selling. The median home value of $241,282 provides a reference point for property values, but without historical context, it's challenging to determine if this represents an increase or decrease over time.
A 16.7% renter share highlights that a significant portion of the population prefers or is compelled to rent rather than own. This figure is indicative of long-term housing pressure, suggesting that there is a persistent need for rental properties in the area. It signals that a segment of the community may struggle with homeownership due to financial constraints or other reasons, thereby maintaining a steady demand for rentals.
In summary, ZIP 28905 presents a balanced market with a slight edge towards tenant-friendly conditions. The stability in rental prices and modest home values reflect a market that is neither overheated nor underperforming. Landlords and small-portfolio investors should focus on providing quality rental units at competitive rates to attract and retain tenants, capitalizing on the consistent rental demand.
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.