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Chatham County/Bennett/27208

27208

ZIPSAFMR
Chatham County, NC
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,020
1 BR$1,050$1,050
2 BR$1,200$1,200
3 BR$1,510$1,510
4 BR$1,840$1,840
5 BR$2,116Not available
6 BR$2,433Not available
7 BR$2,798Not available
8 BR$3,218Not available

Purchase Price Calculator

Maximum purchase price
$116,403

Cost breakdown

+Likely effective rent$1,200
HUD FMRUsed$1,200
Market rentN/A
Est. payment standardN/A
-Principal and interest-$589
Loan amount$93,122
Down payment$23,281
Rate6.50%
Term30 years
-Operating costs-$411
Property taxes-$116
Insurance-$175
Utilities$0
HOA$0
Management-$120
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,487(83.7% ROI)
Projected value
$125,353
Return breakdown
Property appreciation+$8,950
Loan principal paid down+$3,336
Rental cash flow+$7,200
5-year hold
+$33,246(142.8% ROI)
Projected value
$131,699
Return breakdown
Property appreciation+$15,296
Loan principal paid down+$5,950
Rental cash flow+$12,000
10-year hold
+$70,780(304.0% ROI)
Projected value
$149,006
Return breakdown
Property appreciation+$32,603
Loan principal paid down+$14,177
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 27208 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27208 (Bennett, NC) is $1,200 a month. That is down 9.8% from $1,330 in FY 2026. Bennett is in the Durham-Chapel Hill, NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 22 ZIP codes in Chatham County, 27208 is tied for the 19th-highest two-bedroom rent (county range $1,200–$2,140). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27208 is 5% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27208
BedroomsFY 2027Change90–110% range
Studio$1,020−9.7%$918–$1,122
1BR$1,050−9.5%$945–$1,155
2BR$1,200−9.8%$1,080–$1,320
3BR$1,510−9.6%$1,359–$1,661
4BR$1,840−9.8%$1,656–$2,024

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27208
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,050$1,200$1,510$1,840
FY 2026$1,130$1,160$1,330$1,670$2,040
FY 2025$1,250$1,280$1,470$1,850$2,260
FY 2024$1,020$1,030$1,190$1,510$1,830
FY 2023$940$950$1,090$1,400$1,640

Two-bedroom rent in nearby Chatham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27208
27207$1,540+28.3%
27208Current$1,200—
27213$1,540+28.3%
27252$1,540+28.3%
27256$1,540+28.3%
27298$1,2000.0%
27312$1,540+28.3%
27325$1,2000.0%
27330$1,540+28.3%
27332$1,250+4.2%
27344$1,310+9.2%
27349$1,540+28.3%

Questions about ZIP 27208 rents

How much will Section 8 pay for a two-bedroom in ZIP 27208?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,200, that basic range is $1,080 to $1,320 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 27208 in?

ZIP 27208 is in the Durham-Chapel Hill, 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 27208 for FY 2027?

The two-bedroom FMR fell 9.8%, from $1,330 in FY 2026 to $1,200 in FY 2027. Since FY 2023 it has risen 10.1%.

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 rentBennett, NC fair market rentNC statewide rentsWhat is SAFMR?Data sources