FMR is near market; voucher and private rents are aligned.
1.09
3 BR
3 BR- 28031
1.10ratio
FMR$2,440
Market$2,210
vs market+$230
FMR is above market; underwrite to market rent.
1.10
4 BR
4 BR- 28031
1.21ratio
FMR$3,110
Market$2,560
vs market+$550
FMR is above market; underwrite to market rent.
1.21
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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Cornelius, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cornelius, NC is $2,000 a month. That is up 5.8% from $1,890 in FY 2026. Cornelius is in the Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area, 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 Cornelius is 75% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cornelius, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,650
$1,760
+6.7%
$1,584–$1,936
1BR
$1,720
$1,840
+7.0%
$1,656–$2,024
2BR
$1,890
$2,000
+5.8%
$1,800–$2,200
3BR
$2,330
$2,440
+4.7%
$2,196–$2,684
4BR
$2,960
$3,110
+5.1%
$2,799–$3,421
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cornelius, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,760
$1,840
$2,000
$2,440
$3,110
FY 2026
$1,650
$1,720
$1,890
$2,330
$2,960
FY 2025
$1,770
$1,830
$2,030
$2,500
$3,170
FY 2024
$1,520
$1,560
$1,750
$2,180
$2,790
FY 2023
$1,330
$1,350
$1,530
$1,940
$2,510
Questions about Cornelius, NC rents
How much will Section 8 pay for a two-bedroom in Cornelius, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,000, that basic range is $1,800 to $2,200 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 Cornelius, NC in?
Cornelius, NC is in the Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Cornelius, NC for FY 2027?
The two-bedroom FMR rose 5.8%, from $1,890 in FY 2026 to $2,000 in FY 2027. Since FY 2023 it has risen 30.7%.
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