Section 8 Fair Market Rent (FMR) for ZIP 29652 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 29652 in fiscal year 2024 is set at $1240. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent. It's important to note that this is not the actual rent you will receive; it's the payment standard used by the Housing Choice Voucher program to determine the maximum rental assistance payment.

In ZIP 29652, the local median rent is listed as N/A, which makes direct comparison challenging. However, the FMR serves as a benchmark for what is considered a reasonable rent in the area. Given the N/A% of residents who are renters, there is a significant demand for affordable housing options, making Section 8 rentals a viable choice for landlords looking to fill vacancies.

The acquisition cost for properties in this area is also noted as N/A. While this doesn't provide a specific number, it suggests that property values might be stable or that there isn't enough data to give an accurate average. When acquiring a new property, it's crucial to ensure that the purchase price aligns with the potential rental income, including the Section 8 voucher payment.

Before deciding to enter into a Section 8 rental agreement, it's essential to verify that your property meets the Housing Quality Standards (HQS). These standards are set by the U.S. Department of Housing and Urban Development (HUD) and ensure that the home is safe, decent, and sanitary for tenants. A thorough inspection can prevent costly repairs and delays in leasing your property.

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.