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Wake County/Apex/27502

27502

ZIPSAFMR
Wake County, NC
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,820$2,000
1 BR$1,890$2,080
2 BR$2,060$1,940
3 BR$2,570$2,040
4 BR$3,440$2,400
5 BR$3,956Not available
6 BR$4,549Not available
7 BR$5,232Not available
8 BR$6,017Not available

Purchase Price Calculator

Maximum purchase price
$226,367

Cost breakdown

+Likely effective rent$1,940
HUD FMR$2,060
Market rentUsed$1,940
Est. payment standard (96%)$1,980
-Principal and interest-$1,145
Loan amount$181,093
Down payment$45,273
Rate6.50%
Term30 years
-Operating costs-$595
Property taxes-$226
Insurance-$175
Utilities$0
HOA$0
Management-$194
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,094(68.7% ROI)
Projected value
$243,772
Return breakdown
Property appreciation+$17,405
Loan principal paid down+$6,488
Rental cash flow+$7,200
5-year hold
+$53,317(117.8% ROI)
Projected value
$256,113
Return breakdown
Property appreciation+$29,746
Loan principal paid down+$11,570
Rental cash flow+$12,000
10-year hold
+$114,971(253.9% ROI)
Projected value
$289,769
Return breakdown
Property appreciation+$63,402
Loan principal paid down+$27,569
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.86
2 BR
1.06
3 BR
1.26
4 BR
1.43
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 27502 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27502 (Apex, NC) is $2,060 a month. That is down 3.7% from $2,140 in FY 2026. Apex is in the Raleigh-Cary, NC MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 62 ZIP codes in Wake County, 27502 is tied for the 4th-highest two-bedroom rent (county range $1,220–$2,140). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27502 is 80% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27502
BedroomsFY 2027Change90–110% range
Studio$1,820−2.2%$1,638–$2,002
1BR$1,890−3.1%$1,701–$2,079
2BR$2,060−3.7%$1,854–$2,266
3BR$2,570−4.5%$2,313–$2,827
4BR$3,440−4.2%$3,096–$3,784

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27502
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,820$1,890$2,060$2,570$3,440
FY 2026$1,860$1,950$2,140$2,690$3,590
FY 2025$1,870$1,940$2,150$2,670$3,610
FY 2024$1,750$1,800$2,020$2,500$3,330
FY 2023$1,500$1,550$1,750$2,150$2,840

Two-bedroom rent in nearby Wake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27502
27501$1,220−40.8%
27502Current$2,060—
27511$1,610−21.8%
27512$1,740−15.5%
27513$1,840−10.7%
27518$1,800−12.6%
27519$2,140+3.9%
27520$1,640−20.4%
27522$1,340−35.0%
27523$2,080+1.0%
27526$1,760−14.6%
27529$1,580−23.3%

Questions about ZIP 27502 rents

How much will Section 8 pay for a two-bedroom in ZIP 27502?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,060, that basic range is $1,854 to $2,266 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 27502 in?

ZIP 27502 is in the Raleigh-Cary, NC MSA. 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 27502 for FY 2027?

The two-bedroom FMR fell 3.7%, from $2,140 in FY 2026 to $2,060 in FY 2027. Since FY 2023 it has risen 17.7%.

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