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Currituck County/Currituck/27929

27929

ZIPSAFMR
Currituck County, NC
Zillow

ZIP Investment Score

93Below average

095130300
BRFMR
Eff. Rent
0 BR$1,450$1,450
1 BR$1,460$1,460
2 BR$1,640$1,640
3 BR$2,260$2,260
4 BR$2,680$2,680
5 BR$3,082Not available
6 BR$3,544Not available
7 BR$4,076Not available
8 BR$4,687Not available

Purchase Price Calculator

Maximum purchase price
$181,787

Cost breakdown

+Likely effective rent$1,640
HUD FMRUsed$1,640
Market rentN/A
Est. payment standardN/A
-Principal and interest-$919
Loan amount$145,429
Down payment$36,357
Rate6.50%
Term30 years
-Operating costs-$521
Property taxes-$182
Insurance-$175
Utilities$0
HOA$0
Management-$164
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,388(72.6% ROI)
Projected value
$195,765
Return breakdown
Property appreciation+$13,978
Loan principal paid down+$5,210
Rental cash flow+$7,200
5-year hold
+$45,180(124.3% ROI)
Projected value
$205,675
Return breakdown
Property appreciation+$23,888
Loan principal paid down+$9,292
Rental cash flow+$12,000
10-year hold
+$97,056(266.9% ROI)
Projected value
$232,703
Return breakdown
Property appreciation+$50,916
Loan principal paid down+$22,140
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 27929 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27929 (Currituck, NC) is $1,640 a month. That is up 3.1% from $1,590 in FY 2026. Currituck is in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 15 ZIP codes in Currituck County, 27929 has the 4th-highest two-bedroom rent (county range $1,340–$1,780). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27929 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27929
BedroomsFY 2027Change90–110% range
Studio$1,450+5.1%$1,305–$1,595
1BR$1,460+4.3%$1,314–$1,606
2BR$1,640+3.1%$1,476–$1,804
3BR$2,260+2.7%$2,034–$2,486
4BR$2,680+3.1%$2,412–$2,948

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27929
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,450$1,460$1,640$2,260$2,680
FY 2026$1,380$1,400$1,590$2,200$2,600
FY 2025$1,420$1,430$1,640$2,280$2,710
FY 2024$1,180$1,190$1,380$1,920$2,340
FY 2023$1,170$1,200$1,400$1,950$2,380

Two-bedroom rent in nearby Currituck County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27929
27916$1,410−14.0%
27917$1,410−14.0%
27923$1,410−14.0%
27927$1,610−1.8%
27929Current$1,640—
27939$1,340−18.3%
27941$1,660+1.2%
27947$1,430−12.8%
27950$1,600−2.4%
27956$1,410−14.0%
27958$1,780+8.5%
27964$1,530−6.7%

Questions about ZIP 27929 rents

How much will Section 8 pay for a two-bedroom in ZIP 27929?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,640, that basic range is $1,476 to $1,804 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 27929 in?

ZIP 27929 is in the Virginia Beach-Norfolk-Newport News, VA-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 27929 for FY 2027?

The two-bedroom FMR rose 3.1%, from $1,590 in FY 2026 to $1,640 in FY 2027. Since FY 2023 it has risen 17.1%.

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