Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
U.S. Census Bureau data (2024)
ZIP code 29733 is situated within the Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area. The Fair Market Rent (FMR) for this ZIP code is set at $1370 for fiscal year 2024. While specific market rent and home value data are not available for 29733, we can infer its position relative to other ZIP codes within the Charlotte-Concord-Gastonia area based on the provided FMR.
The Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area typically has higher FMRs compared to ZIP 29733. For instance, the overall FMR for a two-bedroom apartment in the metro area is generally above $1370. This suggests that 29733 could be considered a value pocket within the larger metro area, offering rental properties at a lower cost compared to average market rates.
Without concrete market rent and home value figures for 29733, it's difficult to make direct comparisons to other ZIP codes in the metro. However, the absence of these figures might indicate that the area is less developed or has fewer recorded transactions, which could also contribute to its status as a value pocket.
The lack of data on the percentage of renters in 29733 prevents us from making definitive statements about the proportion of tenants versus homeowners. Nonetheless, if the renter share were notably high while home values remained below the metro average, it would signal a potential sweet spot for Section 8 investments, as it would attract more rental subsidies without the burden of higher property costs.
In summary, ZIP 29733 appears to be a value pocket within the Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area, characterized by its relatively low FMR. This makes it an attractive option for landlords and small-portfolio investors seeking to offer affordable housing options while still being part of a larger, economically vibrant metropolitan area.
Data Sources: FMR data from HUD (2027). 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.