FMR is near market; voucher and private rents are aligned.
0.99
3 BR
3 BR- 28720
1.19ratio
FMR$2,030
Market$1,700
vs market+$330
FMR is above market; underwrite to market rent.
1.19
4 BR
4 BR- 28720
1.13ratio
FMR$2,060
Market$1,830
vs market+$230
FMR is above market; underwrite to market rent.
1.13
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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Chimney Rock, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Chimney Rock, NC is $1,520 a month. That is up 9.4% from $1,390 in FY 2026. Chimney Rock is in the Rutherford 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 Chimney Rock is 33% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Chimney Rock, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,200
$1,290
+7.5%
$1,161–$1,419
1BR
$1,210
$1,300
+7.4%
$1,170–$1,430
2BR
$1,390
$1,520
+9.4%
$1,368–$1,672
3BR
$1,920
$2,030
+5.7%
$1,827–$2,233
4BR
$2,000
$2,060
+3.0%
$1,854–$2,266
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Chimney Rock, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,290
$1,300
$1,520
$2,030
$2,060
FY 2026
$1,200
$1,210
$1,390
$1,920
$2,000
FY 2025
$1,210
$1,220
$1,400
$1,890
$2,170
FY 2024area FMR
$733
$737
$856
$1,117
$1,367
FY 2023area FMR
$643
$646
$771
$975
$1,188
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Chimney Rock, NC rents
How much will Section 8 pay for a two-bedroom in Chimney Rock, 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 $1,520 it would be $1,368 to $1,672. 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 Chimney Rock, NC in?
Chimney Rock, NC is in the Rutherford 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 Chimney Rock, NC for FY 2027?
The two-bedroom FMR rose 9.4%, from $1,390 in FY 2026 to $1,520 in FY 2027. Since FY 2025 it has risen 8.6%.
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