Forsyth County/Belews Creek/27009

27009

ZIPSAFMR

Forsyth County, NC

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ZIP Investment Score

98Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,310	$1,380	6.6%
1 BR	$1,490	$1,400	9.7%
2 BR	$1,620	$1,670	6.5%
3 BR	$2,130	$1,870	6.8%
4 BR	$2,600	$2,080	8.8%
5 BR	$2,990	Not available	8.8%
6 BR	$3,438	Not available	8.8%
7 BR	$3,954	Not available	8.8%
8 BR	$4,547	Not available	8.8%

Purchase Price Calculator

Maximum purchase price

$186,245

Cost breakdown

+Likely effective rent$1,670

HUD FMR$1,620

Market rent$1,700

Est. payment standard (103%)Used$1,670

-Principal and interest-$942

Loan amount$148,996

Down payment$37,249

Rate6.50%

Term30 years

-Operating costs-$528

Property taxes-$186

Insurance-$175

Utilities$0

HOA$0

Management-$167

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$26,859(72.1% ROI)

Projected value

$200,565

Return breakdown

Property appreciation+$14,320

Loan principal paid down+$5,338

Rental cash flow+$7,200

5-year hold

+$45,993(123.5% ROI)

Projected value

$210,719

Return breakdown

Property appreciation+$24,474

Loan principal paid down+$9,519

Rental cash flow+$12,000

10-year hold

+$98,847(265.4% ROI)

Projected value

$238,409

Return breakdown

Property appreciation+$52,164

Loan principal paid down+$22,683

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.93ratio

FMR$1,310

Market$1,410

vs market-$100

FMR is near market; voucher and private rents are aligned.

0.93

1 BR

1.06ratio

FMR$1,490

Market$1,400

vs market+$90

FMR is near market; voucher and private rents are aligned.

1.06

2 BR

0.95ratio

FMR$1,620

Market$1,700

vs market-$80

FMR is near market; voucher and private rents are aligned.

0.95

3 BR

1.14ratio

FMR$2,130

Market$1,870

vs market+$260

FMR is above market; underwrite to market rent.

1.14

4 BR

1.25ratio

FMR$2,600

Market$2,080

vs market+$520

FMR is above market; underwrite to market rent.

1.25

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: --

ZIP 27009 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27009 (Belews Creek, NC) is $1,620 a month. That is up 6.6% from $1,520 in FY 2026. Belews Creek is in the Winston-Salem, NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 42 ZIP codes in Forsyth County, 27009 has the 3rd-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27009 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27009
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,230	$1,310	+6.5%	$1,179–$1,441
1BR	$1,330	$1,490	+12.0%	$1,341–$1,639
2BR	$1,520	$1,620	+6.6%	$1,458–$1,782
3BR	$1,980	$2,130	+7.6%	$1,917–$2,343
4BR	$2,340	$2,600	+11.1%	$2,340–$2,860

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27009
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,310	$1,490	$1,620	$2,130	$2,600
FY 2026	$1,230	$1,330	$1,520	$1,980	$2,340
FY 2025	$1,160	$1,220	$1,430	$1,880	$2,210
FY 2024	$1,080	$1,130	$1,340	$1,750	$2,020
FY 2023	$910	$950	$1,140	$1,510	$1,750

Two-bedroom rent in nearby Forsyth County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 27009
27009Current	$1,620	—
27010	$1,380	−14.8%
27012	$1,450	−10.5%
27019	$1,010	−37.7%
27021	$1,170	−27.8%
27023	$1,410	−13.0%
27040	$1,850	+14.2%
27045	$1,370	−15.4%
27050	$1,140	−29.6%
27051	$1,510	−6.8%
27052	$1,010	−37.7%
27094	$1,380	−14.8%

Questions about ZIP 27009 rents

How much will Section 8 pay for a two-bedroom in ZIP 27009?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,620, that basic range is $1,458 to $1,782 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 ZIP 27009 in?

ZIP 27009 is in the Winston-Salem, NC 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 ZIP 27009 for FY 2027?

The two-bedroom FMR rose 6.6%, from $1,520 in FY 2026 to $1,620 in FY 2027. Since FY 2023 it has risen 42.1%.

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

County fair market rent Belews Creek, NC fair market rent NC statewide rents What is SAFMR?Data sources