Location: Charlotte-Concord-Gastonia, NC | Metro: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area
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 | $1,050 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $249,121 | 0.48% | F |
| 3BR | $1,450 | $351,720 | 0.41% | F |
| 4BR | $1,850 | $461,263 | 0.4% | F |
| 5BR | $2,146 | $562,964 | 0.38% | F |
U.S. Census Bureau data (2024)
In ZIP code 29745 in York, SC, there are notable risks for first-time Section 8 landlords. Tenant turnover is a significant concern, with the market rent at $2,261 compared to the Federal Market Rent (FMR) of $1050 for FY 2024. This disparity suggests that tenants may struggle to afford market rates, leading to higher turnover and instability. Vacancy exposure is another issue, as the average days on market (DOM) is not available, indicating potential difficulty in finding and retaining tenants. The deferred maintenance risk is elevated due to the typical home value of $353,969 and a median income of $79,117, which implies that homeowners might delay necessary repairs, increasing the likelihood of property damage.
However, these risks are mitigated by the high renter share of 16.1%. A larger proportion of renters typically translates into higher demand for housing vouchers, which can stabilize occupancy and provide a steady income stream. The presence of many renters also suggests a diverse and potentially robust local rental market, which can help offset some of the financial uncertainties associated with Section 8 investments.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.