FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 28759
1.31ratio
FMR$2,090
Market$1,590
vs market+$500
FMR is above market; underwrite to market rent.
1.31
2 BR
2 BR- 28759
1.19ratio
FMR$2,270
Market$1,910
vs market+$360
FMR is above market; underwrite to market rent.
1.19
3 BR
3 BR- 28759
1.07ratio
FMR$2,700
Market$2,520
vs market+$180
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR- 28759
1.22ratio
FMR$3,780
Market$3,110
vs market+$670
FMR is above market; underwrite to market rent.
1.22
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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Mills River, NC fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Mills River, NC is $2,270 a month. That is up 7.1% from $2,120 in FY 2026. Mills River is in the Asheville, NC MSA. 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 $1,866. The median county two-bedroom FMR in North Carolina is $1,145, so Mills River is 98% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Mills River, NC
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,660
$1,800
+8.4%
$1,620–$1,980
1BR
$1,930
$2,090
+8.3%
$1,881–$2,299
2BR
$2,120
$2,270
+7.1%
$2,043–$2,497
3BR
$2,580
$2,700
+4.7%
$2,430–$2,970
4BR
$3,560
$3,780
+6.2%
$3,402–$4,158
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Mills River, NC
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,800
$2,090
$2,270
$2,700
$3,780
FY 2026
$1,660
$1,930
$2,120
$2,580
$3,560
FY 2025
$1,350
$1,450
$1,610
$2,040
$2,700
FY 2024
$1,500
$1,570
$1,760
$2,260
$2,990
FY 2023
$1,320
$1,350
$1,520
$2,020
$2,590
Questions about Mills River, NC rents
How much will Section 8 pay for a two-bedroom in Mills River, NC?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,866, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,679 to $2,053 a month; under the ZIP-level Small Area FMR of $2,270 it would be $2,043 to $2,497. 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 Mills River, NC in?
Mills River, NC is in the Asheville, NC MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,866.
How much did fair market rent change in Mills River, NC for FY 2027?
The two-bedroom FMR rose 7.1%, from $2,120 in FY 2026 to $2,270 in FY 2027. Since FY 2023 it has risen 49.3%.
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