FMR is below market; voucher rent may lag private rents.
0.66
1 BR
1 BR
0.79ratio
FMR$1,030
Market$1,300
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.79
2 BR
2 BR
0.90ratio
FMR$1,220
Market$1,360
vs market-$140
FMR is below market; voucher rent may lag private rents.
0.90
3 BR
3 BR
0.87ratio
FMR$1,690
Market$1,950
vs market-$260
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR
0.92ratio
FMR$1,990
Market$2,170
vs market-$180
FMR is near market; voucher and private rents are aligned.
0.92
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
--
ZIP 27909 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27909 (Elizabeth City, NC) is $1,220 a month. That is up 2.5% from $1,190 in FY 2026. Elizabeth City is in the Camden County, 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 $1,364. Among 5 ZIP codes in Camden County, 27909 has the 5th-highest two-bedroom rent (county range $1,220–$1,560). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27909 is 7% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 27909
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$900
$1,010
+12.2%
$909–$1,111
1BR
$910
$1,030
+13.2%
$927–$1,133
2BR
$1,190
$1,220
+2.5%
$1,098–$1,342
3BR
$1,600
$1,690
+5.6%
$1,521–$1,859
4BR
$1,860
$1,990
+7.0%
$1,791–$2,189
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 27909
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,010
$1,030
$1,220
$1,690
$1,990
FY 2026
$900
$910
$1,190
$1,600
$1,860
FY 2025
$880
$880
$1,160
$1,560
$1,860
FY 2024
$920
$930
$1,070
$1,510
$1,820
FY 2023
$820
$830
$970
$1,380
$1,650
Two-bedroom rent in nearby Camden County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 27909?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,364, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,228 to $1,500 a month; under the ZIP-level Small Area FMR of $1,220 it would be $1,098 to $1,342. 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 27909 in?
ZIP 27909 is in the Camden County, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,364.
How much did fair market rent change in ZIP 27909 for FY 2027?
The two-bedroom FMR rose 2.5%, from $1,190 in FY 2026 to $1,220 in FY 2027. Since FY 2023 it has risen 25.8%.
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