FMR is below market; voucher rent may lag private rents.
0.75
1 BR
1 BR- 27244
0.85ratio
FMR$1,120
Market$1,320
vs market-$200
FMR is below market; voucher rent may lag private rents.
0.85
2 BR
2 BR- 27244
0.90ratio
FMR$1,230
Market$1,360
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.90
3 BR
3 BR- 27244
1.06ratio
FMR$1,520
Market$1,430
vs market+$90
FMR is near market; voucher and private rents are aligned.
1.06
4 BR
4 BR- 27244
1.29ratio
FMR$1,910
Market$1,480
vs market+$430
FMR is above market; underwrite to market rent.
1.29
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
--
Elon, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Elon, NC is $1,230 a month. That is down 0.8% from $1,240 in FY 2026. Elon is in the Caswell 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 Elon is 7% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Elon, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$920
$980
+6.5%
$882–$1,078
1BR
$1,120
$1,120
0.0%
$1,008–$1,232
2BR
$1,240
$1,230
−0.8%
$1,107–$1,353
3BR
$1,540
$1,520
−1.3%
$1,368–$1,672
4BR
$1,810
$1,910
+5.5%
$1,719–$2,101
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Elon, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$980
$1,120
$1,230
$1,520
$1,910
FY 2026
$920
$1,120
$1,240
$1,540
$1,810
FY 2025
$910
$1,070
$1,180
$1,500
$1,750
FY 2024
$850
$1,070
$1,250
$1,560
$1,760
FY 2023
$810
$940
$1,150
$1,440
$1,560
Questions about Elon, NC rents
How much will Section 8 pay for a two-bedroom in Elon, 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 $1,230 it would be $1,107 to $1,353. 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 Elon, NC in?
Elon, NC is in the Caswell 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 Elon, NC for FY 2027?
The two-bedroom FMR fell 0.8%, from $1,240 in FY 2026 to $1,230 in FY 2027. Since FY 2023 it has risen 7.0%.
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