FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR- 28039
0.96ratio
FMR$1,050
Market$1,090
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.96
2 BR
2 BR- 28039
1.05ratio
FMR$1,310
Market$1,250
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR- 28039
0.99ratio
FMR$1,660
Market$1,670
vs market-$10
FMR is near market; voucher and private rents are aligned.
0.99
4 BR
4 BR- 28039
1.03ratio
FMR$2,190
Market$2,130
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.03
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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East Spencer, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in East Spencer, NC is $1,310 a month. That is up 4.8% from $1,250 in FY 2026. East Spencer is in the Rowan County, NC HUD Metro 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 metro-wide two-bedroom FMR of $1,262. The median county two-bedroom FMR in North Carolina is $1,145, so East Spencer is 14% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for East Spencer, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$990
$1,030
+4.0%
$927–$1,133
1BR
$1,000
$1,050
+5.0%
$945–$1,155
2BR
$1,250
$1,310
+4.8%
$1,179–$1,441
3BR
$1,640
$1,660
+1.2%
$1,494–$1,826
4BR
$2,100
$2,190
+4.3%
$1,971–$2,409
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for East Spencer, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,030
$1,050
$1,310
$1,660
$2,190
FY 2026
$990
$1,000
$1,250
$1,640
$2,100
FY 2025
$1,080
$1,090
$1,330
$1,750
$2,230
FY 2024
$950
$950
$1,150
$1,520
$1,750
FY 2023
$840
$850
$1,030
$1,330
$1,460
Questions about East Spencer, NC rents
How much will Section 8 pay for a two-bedroom in East Spencer, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,262, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,136 to $1,388 a month; under the ZIP-level Small Area FMR of $1,310 it would be $1,179 to $1,441. 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 East Spencer, NC in?
East Spencer, NC is in the Rowan County, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,262.
How much did fair market rent change in East Spencer, NC for FY 2027?
The two-bedroom FMR rose 4.8%, from $1,250 in FY 2026 to $1,310 in FY 2027. Since FY 2023 it has risen 27.2%.
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