FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 28533
1.01ratio
FMR$1,080
Market$1,070
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.01
2 BR
2 BR- 28533
1.14ratio
FMR$1,410
Market$1,240
vs market+$170
FMR is above market; underwrite to market rent.
1.14
3 BR
3 BR- 28533
1.10ratio
FMR$1,860
Market$1,690
vs market+$170
FMR is above market; underwrite to market rent.
1.10
4 BR
4 BR- 28533
1.18ratio
FMR$2,250
Market$1,900
vs market+$350
FMR is above market; underwrite to market rent.
1.18
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
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Cherry Point, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cherry Point, NC is $1,410 a month. That is up 5.2% from $1,340 in FY 2026. Cherry Point is in the Craven 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 $1,246. The median county two-bedroom FMR in North Carolina is $1,145, so Cherry Point is 23% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cherry Point, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,010
$1,070
+5.9%
$963–$1,177
1BR
$1,020
$1,080
+5.9%
$972–$1,188
2BR
$1,340
$1,410
+5.2%
$1,269–$1,551
3BR
$1,800
$1,860
+3.3%
$1,674–$2,046
4BR
$2,250
$2,250
0.0%
$2,025–$2,475
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cherry Point, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,070
$1,080
$1,410
$1,860
$2,250
FY 2026
$1,010
$1,020
$1,340
$1,800
$2,250
FY 2025
$1,120
$1,130
$1,480
$1,990
$2,490
FY 2024
$1,030
$1,040
$1,360
$1,840
$2,310
FY 2023
$830
$830
$1,090
$1,460
$1,860
Questions about Cherry Point, NC rents
How much will Section 8 pay for a two-bedroom in Cherry Point, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,246, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,121 to $1,371 a month; under the ZIP-level Small Area FMR of $1,410 it would be $1,269 to $1,551. 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 Cherry Point, NC in?
Cherry Point, NC is in the Craven County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,246.
How much did fair market rent change in Cherry Point, NC for FY 2027?
The two-bedroom FMR rose 5.2%, from $1,340 in FY 2026 to $1,410 in FY 2027. Since FY 2023 it has risen 29.4%.
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