FMR is near market; voucher and private rents are aligned.
1.03
4 BR
4 BR
1.18ratio
FMR$2,210
Market$1,880
vs market+$330
FMR is above market; underwrite to market rent.
1.18
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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ZIP 27114 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27114 (Winston Salem, NC) is $1,380 a month. That is up 8.7% from $1,270 in FY 2026. Winston Salem 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, 27114 is tied for the 13th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27114 is 21% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 27114
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,030
$1,120
+8.7%
$1,008–$1,232
1BR
$1,110
$1,270
+14.4%
$1,143–$1,397
2BR
$1,270
$1,380
+8.7%
$1,242–$1,518
3BR
$1,660
$1,820
+9.6%
$1,638–$2,002
4BR
$1,960
$2,210
+12.8%
$1,989–$2,431
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 27114
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,120
$1,270
$1,380
$1,820
$2,210
FY 2026
$1,030
$1,110
$1,270
$1,660
$1,960
FY 2025
$970
$1,020
$1,200
$1,570
$1,850
FY 2024
$920
$960
$1,140
$1,490
$1,720
FY 2023
$790
$820
$990
$1,310
$1,520
Two-bedroom rent in nearby Forsyth County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 27114?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,380, that basic range is $1,242 to $1,518 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 27114 in?
ZIP 27114 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 27114 for FY 2027?
The two-bedroom FMR rose 8.7%, from $1,270 in FY 2026 to $1,380 in FY 2027. Since FY 2023 it has risen 39.4%.
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