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Durham County/Durham/27703

27703

ZIPSAFMR
Durham County, NC
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,350
1 BR$1,630$1,430
2 BR$1,830$2,010
3 BR$2,270$2,130
4 BR$2,610$2,410
5 BR$3,001Not available
6 BR$3,452Not available
7 BR$3,969Not available
8 BR$4,565Not available

Purchase Price Calculator

Maximum purchase price
$236,769

Cost breakdown

+Likely effective rent$2,010
HUD FMR$1,830
Market rent$2,250
Est. payment standard (110%)Used$2,010
-Principal and interest-$1,197
Loan amount$189,415
Down payment$47,354
Rate6.50%
Term30 years
-Operating costs-$613
Property taxes-$237
Insurance-$175
Utilities$0
HOA$0
Management-$201
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,192(68.0% ROI)
Projected value
$254,974
Return breakdown
Property appreciation+$18,205
Loan principal paid down+$6,786
Rental cash flow+$7,200
5-year hold
+$55,215(116.6% ROI)
Projected value
$267,882
Return breakdown
Property appreciation+$31,113
Loan principal paid down+$12,102
Rental cash flow+$12,000
10-year hold
+$119,152(251.6% ROI)
Projected value
$303,084
Return breakdown
Property appreciation+$66,315
Loan principal paid down+$28,836
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.16
1 BR
1.14
2 BR
0.81
3 BR
1.07
4 BR
1.08
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 27703 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27703 (Durham, NC) is $1,830 a month. That is up 4.6% from $1,750 in FY 2026. Durham 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 Durham County, 27703 has the 6th-highest two-bedroom rent (county range $1,540–$2,120). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27703 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27703
BedroomsFY 2027Change90–110% range
Studio$1,570+8.3%$1,413–$1,727
1BR$1,630+5.8%$1,467–$1,793
2BR$1,830+4.6%$1,647–$2,013
3BR$2,270+5.1%$2,043–$2,497
4BR$2,610+2.4%$2,349–$2,871

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27703
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,630$1,830$2,270$2,610
FY 2026$1,450$1,540$1,750$2,160$2,550
FY 2025$1,560$1,650$1,890$2,350$2,830
FY 2024$1,140$1,160$1,340$1,680$2,070
FY 2023$960$970$1,120$1,420$1,790

Two-bedroom rent in nearby Durham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27703
27701$1,590−13.1%
27702$1,770−3.3%
27703Current$1,830—
27704$1,660−9.3%
27705$1,750−4.4%
27706$1,770−3.3%
27707$1,740−4.9%
27708$1,750−4.4%
27709$1,770−3.3%
27710$1,770−3.3%
27712$2,010+9.8%
27713$1,920+4.9%

Questions about ZIP 27703 rents

How much will Section 8 pay for a two-bedroom in ZIP 27703?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,830, that basic range is $1,647 to $2,013 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 27703 in?

ZIP 27703 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 27703 for FY 2027?

The two-bedroom FMR rose 4.6%, from $1,750 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has risen 63.4%.

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