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Durham County/Durham/27704

27704

ZIPSAFMR
Durham County, NC
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$1,420$1,220
1 BR$1,480$1,270
2 BR$1,660$1,570
3 BR$2,060$1,890
4 BR$2,370$2,170
5 BR$2,726Not available
6 BR$3,134Not available
7 BR$3,604Not available
8 BR$4,145Not available

Purchase Price Calculator

Maximum purchase price
$171,385

Cost breakdown

+Likely effective rent$1,570
HUD FMR$1,660
Market rentUsed$1,570
Est. payment standard (96%)$1,600
-Principal and interest-$867
Loan amount$137,108
Down payment$34,277
Rate6.50%
Term30 years
-Operating costs-$503
Property taxes-$171
Insurance-$175
Utilities$0
HOA$0
Management-$157
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,290(73.8% ROI)
Projected value
$184,563
Return breakdown
Property appreciation+$13,178
Loan principal paid down+$4,912
Rental cash flow+$7,200
5-year hold
+$43,281(126.3% ROI)
Projected value
$193,906
Return breakdown
Property appreciation+$22,521
Loan principal paid down+$8,760
Rental cash flow+$12,000
10-year hold
+$92,875(271.0% ROI)
Projected value
$219,387
Return breakdown
Property appreciation+$48,002
Loan principal paid down+$20,873
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.16
1 BR
1.17
2 BR
1.06
3 BR
1.09
4 BR
1.09
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 27704 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27704 (Durham, NC) is $1,660 a month. That is down 1.8% from $1,690 in FY 2026. Durham 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 22 ZIP codes in Durham County, 27704 has the 18th-highest two-bedroom rent (county range $1,540–$2,120). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27704 is 45% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27704
BedroomsFY 2027Change90–110% range
Studio$1,420+1.4%$1,278–$1,562
1BR$1,4800.0%$1,332–$1,628
2BR$1,660−1.8%$1,494–$1,826
3BR$2,060−2.4%$1,854–$2,266
4BR$2,370−6.3%$2,133–$2,607

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27704
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,420$1,480$1,660$2,060$2,370
FY 2026$1,400$1,480$1,690$2,110$2,530
FY 2025$1,460$1,540$1,760$2,190$2,640
FY 2024$1,290$1,320$1,520$1,910$2,340
FY 2023$1,040$1,040$1,210$1,540$1,870

Two-bedroom rent in nearby Durham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27704
27701$1,590−4.2%
27702$1,770+6.6%
27703$1,830+10.2%
27704Current$1,660—
27705$1,750+5.4%
27706$1,770+6.6%
27707$1,740+4.8%
27708$1,750+5.4%
27709$1,770+6.6%
27710$1,770+6.6%
27712$2,010+21.1%
27713$1,920+15.7%

Questions about ZIP 27704 rents

How much will Section 8 pay for a two-bedroom in ZIP 27704?

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 $1,660 it would be $1,494 to $1,826. 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 27704 in?

ZIP 27704 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 27704 for FY 2027?

The two-bedroom FMR fell 1.8%, from $1,690 in FY 2026 to $1,660 in FY 2027. Since FY 2023 it has risen 37.2%.

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