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NC/Wake County/Cary

Cary, NC

CitySAFMR
Wake County
Found 5 ZIPs
Zillow

City Median Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$1,420 – $1,880$1,190 – $2,070
1 BR$1,480 – $1,960$1,370 – $2,160
2 BR$1,610 – $2,140$1,550 – $2,000
3 BR$2,000 – $2,660$2,040 – $2,520
4 BR$2,690 – $3,550$2,300 – $2,890
5 BR$3,461Not available
6 BR$3,981Not available
7 BR$4,578Not available
8 BR$5,265Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1
1
1
1
1
0.81-1.29
1 BR
1
1
1
1
1
0.75-1.20
2 BR
1
1
1
1
1
0.85-1.16
3 BR
1
1
1
1
1
0.87-1.10
4 BR
2
1.05-1.27
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
--
Mortgage rate
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Cary, NC fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 5 ZIP codes in Cary, NC ranges from $1,610 to $2,140 a month, with a median of $1,800. That is down 5.3% from $1,900 in FY 2026. Cary is in the Raleigh-Cary, NC MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in North Carolina is $1,145, so Cary is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Cary, NC
BedroomsFY 2027Change90–110% range
Studio$1,590−4.2%$1,431–$1,749
1BR$1,650−4.6%$1,485–$1,815
2BR$1,800−5.3%$1,620–$1,980
3BR$2,240−5.9%$2,016–$2,464
4BR$3,010−5.6%$2,709–$3,311

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Cary, NC
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,590$1,650$1,800$2,240$3,010
FY 2026$1,660$1,730$1,900$2,380$3,190
FY 2025$1,650$1,720$1,900$2,360$3,190
FY 2024$1,530$1,580$1,770$2,190$2,920
FY 2023$1,330$1,370$1,550$1,900$2,520

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
27519$2,140+18.9%
27513$1,840+2.2%
27518$1,8000.0%
27512$1,740−3.3%
27511$1,610−10.6%

Questions about Cary, NC rents

How much will Section 8 pay for a two-bedroom in Cary, NC?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,800, that basic range is $1,620 to $1,980 a month. 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 Cary, NC in?

Cary, NC is in the Raleigh-Cary, NC MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Cary, NC for FY 2027?

The two-bedroom FMR fell 5.3%, from $1,900 in FY 2026 to $1,800 in FY 2027. Since FY 2023 it has risen 16.1%.

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

County fair market rentNC statewide rentsWhat is SAFMR?Data sources