FMR is below market; voucher rent may lag private rents.
0.90
1 BR
1 BR
0.87ratio
FMR$1,160
Market$1,330
vs market-$170
FMR is below market; voucher rent may lag private rents.
0.87
2 BR
2 BR
0.83ratio
FMR$1,260
Market$1,520
vs market-$260
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR
0.87ratio
FMR$1,570
Market$1,800
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR
1.09ratio
FMR$2,110
Market$1,930
vs market+$180
FMR is near market; voucher and private rents are aligned.
1.09
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 27528 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27528 (Clayton, NC) is $1,260 a month. That is down 6.7% from $1,350 in FY 2026. Clayton 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 23 ZIP codes in Johnston County, 27528 is tied for the 7th-highest two-bedroom rent (county range $1,220–$1,900). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27528 is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 27528
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,170
$1,110
−5.1%
$999–$1,221
1BR
$1,190
$1,160
−2.5%
$1,044–$1,276
2BR
$1,350
$1,260
−6.7%
$1,134–$1,386
3BR
$1,660
$1,570
−5.4%
$1,413–$1,727
4BR
$2,200
$2,110
−4.1%
$1,899–$2,321
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 27528
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,110
$1,160
$1,260
$1,570
$2,110
FY 2026
$1,170
$1,190
$1,350
$1,660
$2,200
FY 2025
$1,290
$1,320
$1,490
$1,840
$2,440
FY 2024
$1,100
$1,130
$1,280
$1,560
$2,070
FY 2023
$950
$970
$1,110
$1,370
$1,790
Two-bedroom rent in nearby Johnston County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 27528?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,260, that basic range is $1,134 to $1,386 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 27528 in?
ZIP 27528 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 27528 for FY 2027?
The two-bedroom FMR fell 6.7%, from $1,350 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 13.5%.
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