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Currituck County/Knotts Island/27950

27950

ZIPSAFMR
Currituck County, NC
Zillow

ZIP Investment Score

101Above average

095130300
BRFMR
Eff. Rent
0 BR$1,410$1,410
1 BR$1,430$1,430
2 BR$1,600$1,600
3 BR$2,210$2,210
4 BR$2,600$2,600
5 BR$2,990Not available
6 BR$3,438Not available
7 BR$3,954Not available
8 BR$4,547Not available

Purchase Price Calculator

Maximum purchase price
$175,843

Cost breakdown

+Likely effective rent$1,600
HUD FMRUsed$1,600
Market rentN/A
Est. payment standardN/A
-Principal and interest-$889
Loan amount$140,674
Down payment$35,169
Rate6.50%
Term30 years
-Operating costs-$511
Property taxes-$176
Insurance-$175
Utilities$0
HOA$0
Management-$160
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,761(73.2% ROI)
Projected value
$189,364
Return breakdown
Property appreciation+$13,521
Loan principal paid down+$5,040
Rental cash flow+$7,200
5-year hold
+$44,095(125.4% ROI)
Projected value
$198,950
Return breakdown
Property appreciation+$23,107
Loan principal paid down+$8,988
Rental cash flow+$12,000
10-year hold
+$94,667(269.2% ROI)
Projected value
$225,094
Return breakdown
Property appreciation+$49,251
Loan principal paid down+$21,416
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 27950 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 27950 (Knotts Island, NC) is $1,600 a month. That is down 2.4% from $1,640 in FY 2026. Knotts Island 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, 27950 has the 6th-highest two-bedroom rent (county range $1,340–$1,780). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 27950 is 40% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 27950
BedroomsFY 2027Change90–110% range
Studio$1,410−1.4%$1,269–$1,551
1BR$1,430−1.4%$1,287–$1,573
2BR$1,600−2.4%$1,440–$1,760
3BR$2,210−2.6%$1,989–$2,431
4BR$2,600−3.0%$2,340–$2,860

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 27950
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,410$1,430$1,600$2,210$2,600
FY 2026$1,430$1,450$1,640$2,270$2,680
FY 2025$1,380$1,390$1,590$2,210$2,630
FY 2024$1,130$1,140$1,320$1,840$2,240
FY 2023$990$1,010$1,180$1,650$2,010

Two-bedroom rent in nearby Currituck County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 27950
27927$1,610+0.6%
27929$1,640+2.5%
27939$1,340−16.2%
27941$1,660+3.8%
27947$1,430−10.6%
27950Current$1,600—
27956$1,410−11.9%
27958$1,780+11.3%
27964$1,530−4.4%
27965$1,410−11.9%
27966$1,680+5.0%
27973$1,470−8.1%

Questions about ZIP 27950 rents

How much will Section 8 pay for a two-bedroom in ZIP 27950?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,600, that basic range is $1,440 to $1,760 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 27950 in?

ZIP 27950 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 27950 for FY 2027?

The two-bedroom FMR fell 2.4%, from $1,640 in FY 2026 to $1,600 in FY 2027. Since FY 2023 it has risen 35.6%.

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