FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR
1.12ratio
FMR$940
Market$840
vs market+$100
FMR is above market; underwrite to market rent.
1.12
2 BR
2 BR
0.76ratio
FMR$1,020
Market$1,350
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.76
3 BR
3 BR
0.88ratio
FMR$1,320
Market$1,500
vs market-$180
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR
0.94ratio
FMR$1,550
Market$1,650
vs market-$100
FMR is near market; voucher and private rents are aligned.
0.94
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 27230 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27230 (Cedar Falls, NC) is $1,020 a month. That is down 5.6% from $1,080 in FY 2026. Cedar Falls is in the Greensboro-High Point, NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 24 ZIP codes in Randolph County, 27230 is tied for the 17th-highest two-bedroom rent (county range $1,010–$1,360). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27230 is 11% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 27230
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$940
$900
−4.3%
$810–$990
1BR
$990
$940
−5.1%
$846–$1,034
2BR
$1,080
$1,020
−5.6%
$918–$1,122
3BR
$1,380
$1,320
−4.3%
$1,188–$1,452
4BR
$1,590
$1,550
−2.5%
$1,395–$1,705
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 27230
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$940
$1,020
$1,320
$1,550
FY 2026
$940
$990
$1,080
$1,380
$1,590
FY 2025
$910
$940
$1,060
$1,350
$1,520
FY 2024
$830
$860
$960
$1,220
$1,380
FY 2023
$730
$760
$860
$1,120
$1,290
Two-bedroom rent in nearby Randolph County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 27230?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,020, that basic range is $918 to $1,122 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 27230 in?
ZIP 27230 is in the Greensboro-High Point, 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 27230 for FY 2027?
The two-bedroom FMR fell 5.6%, from $1,080 in FY 2026 to $1,020 in FY 2027. Since FY 2023 it has risen 18.6%.
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