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Orange County/Chapel Hill/27514

27514

ZIPSAFMR
Orange County, NC
Zillow

ZIP Investment Score

53Below average

095130300
BRFMR
Eff. Rent
0 BR$1,700$1,370
1 BR$1,760$1,460
2 BR$1,980$1,590
3 BR$2,450$2,340
4 BR$2,820$2,770
5 BR$3,243Not available
6 BR$3,729Not available
7 BR$4,289Not available
8 BR$4,932Not available

Purchase Price Calculator

Maximum purchase price
$174,357

Cost breakdown

+Likely effective rent$1,590
HUD FMR$1,980
Market rentUsed$1,590
Est. payment standard (90%)$1,780
-Principal and interest-$882
Loan amount$139,485
Down payment$34,871
Rate6.50%
Term30 years
-Operating costs-$508
Property taxes-$174
Insurance-$175
Utilities$0
HOA$0
Management-$159
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,604(73.4% ROI)
Projected value
$187,763
Return breakdown
Property appreciation+$13,406
Loan principal paid down+$4,997
Rental cash flow+$7,200
5-year hold
+$43,824(125.7% ROI)
Projected value
$197,269
Return breakdown
Property appreciation+$22,912
Loan principal paid down+$8,912
Rental cash flow+$12,000
10-year hold
+$94,070(269.8% ROI)
Projected value
$223,192
Return breakdown
Property appreciation+$48,835
Loan principal paid down+$21,235
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.24
1 BR
1.21
2 BR
1.25
3 BR
1.05
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 27514 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27514 (Chapel Hill, NC) is $1,980 a month. That is up 3.7% from $1,910 in FY 2026. Chapel Hill is in the Durham-Chapel Hill, NC HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,745. Among 18 ZIP codes in Orange County, 27514 has the 2nd-highest two-bedroom rent (county range $1,540–$2,010). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27514 is 73% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27514
BedroomsFY 2027Change90–110% range
Studio$1,700+7.6%$1,530–$1,870
1BR$1,760+4.8%$1,584–$1,936
2BR$1,980+3.7%$1,782–$2,178
3BR$2,450+3.8%$2,205–$2,695
4BR$2,820+1.8%$2,538–$3,102

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27514
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,700$1,760$1,980$2,450$2,820
FY 2026$1,580$1,680$1,910$2,360$2,770
FY 2025$1,670$1,770$2,020$2,520$3,030
FY 2024$1,500$1,540$1,770$2,230$2,720
FY 2023$1,260$1,270$1,470$1,870$2,270

Two-bedroom rent in nearby Orange County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27514
27510$1,820−8.1%
27514Current$1,980—
27515$1,760−11.1%
27516$1,750−11.6%
27517$1,890−4.5%
27541$1,540−22.2%
27572$1,540−22.2%
27583$1,540−22.2%
27599$1,760−11.1%
27705$1,750−11.6%
27707$1,740−12.1%
27712$2,010+1.5%

Questions about ZIP 27514 rents

How much will Section 8 pay for a two-bedroom in ZIP 27514?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,745, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,571 to $1,920 a month; under the ZIP-level Small Area FMR of $1,980 it would be $1,782 to $2,178. 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 27514 in?

ZIP 27514 is in the Durham-Chapel Hill, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,745.

How much did fair market rent change in ZIP 27514 for FY 2027?

The two-bedroom FMR rose 3.7%, from $1,910 in FY 2026 to $1,980 in FY 2027. Since FY 2023 it has risen 34.7%.

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