Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Cedar Island, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cedar Island, NC is $1,280 a month. That is up 13.3% from $1,130 in FY 2026. Cedar Island is in the Carteret 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 $1,277. The median county two-bedroom FMR in North Carolina is $1,145, so Cedar Island is 12% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cedar Island, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$860
$970
+12.8%
$873–$1,067
1BR
$870
$980
+12.6%
$882–$1,078
2BR
$1,130
$1,280
+13.3%
$1,152–$1,408
3BR
$1,440
$1,610
+11.8%
$1,449–$1,771
4BR
$1,830
$2,140
+16.9%
$1,926–$2,354
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cedar Island, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$970
$980
$1,280
$1,610
$2,140
FY 2026
$860
$870
$1,130
$1,440
$1,830
FY 2025
$920
$930
$1,220
$1,590
$2,000
FY 2024area FMR
$820
$826
$1,085
$1,454
$1,812
FY 2023area FMR
$757
$762
$1,003
$1,365
$1,708
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Cedar Island, NC rents
How much will Section 8 pay for a two-bedroom in Cedar Island, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,277, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,149 to $1,405 a month; under the ZIP-level Small Area FMR of $1,280 it would be $1,152 to $1,408. 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 Cedar Island, NC in?
Cedar Island, NC is in the Carteret County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,277.
How much did fair market rent change in Cedar Island, NC for FY 2027?
The two-bedroom FMR rose 13.3%, from $1,130 in FY 2026 to $1,280 in FY 2027. Since FY 2025 it has risen 4.9%.
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