FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR- 28607
1.07ratio
FMR$1,150
Market$1,070
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR- 28607
0.72ratio
FMR$1,340
Market$1,860
vs market-$520
FMR is below market; voucher rent may lag private rents.
0.72
3 BR
3 BR- 28607
0.76ratio
FMR$1,780
Market$2,340
vs market-$560
FMR is below market; voucher rent may lag private rents.
0.76
4 BR
4 BR- 28607
0.89ratio
FMR$2,240
Market$2,530
vs market-$290
FMR is below market; voucher rent may lag private rents.
0.89
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Boone, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Boone, NC is $1,340 a month. That is up 3.9% from $1,290 in FY 2026. Boone is in the Avery County, NC non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,012. The median county two-bedroom FMR in North Carolina is $1,145, so Boone is 17% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Boone, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$900
$940
+4.4%
$846–$1,034
1BR
$1,080
$1,150
+6.5%
$1,035–$1,265
2BR
$1,290
$1,340
+3.9%
$1,206–$1,474
3BR
$1,650
$1,780
+7.9%
$1,602–$1,958
4BR
$2,160
$2,240
+3.7%
$2,016–$2,464
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Boone, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$940
$1,150
$1,340
$1,780
$2,240
FY 2026
$900
$1,080
$1,290
$1,650
$2,160
FY 2025
$880
$1,020
$1,290
$1,570
$2,170
FY 2024area FMR
$776
$781
$1,026
$1,241
$1,366
FY 2023area FMR
$706
$711
$936
$1,139
$1,257
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Boone, NC rents
How much will Section 8 pay for a two-bedroom in Boone, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,012, which applies unless the housing authority uses Small Area FMRs, that basic range is $911 to $1,113 a month; under the ZIP-level Small Area FMR of $1,340 it would be $1,206 to $1,474. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Boone, NC in?
Boone, NC is in the Avery County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,012.
How much did fair market rent change in Boone, NC for FY 2027?
The two-bedroom FMR rose 3.9%, from $1,290 in FY 2026 to $1,340 in FY 2027. Since FY 2025 it has risen 3.9%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set