Cabarrus County/Concord/28027

28027

ZIPSAFMR

Cabarrus County, NC

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ZIP Investment Score

83Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,580	$1,590	9.3%
1 BR	$1,640	$1,460	9.5%
2 BR	$1,790	$1,800	8.5%
3 BR	$2,190	$1,940	8.0%
4 BR	$2,780	$2,300	7.5%
5 BR	$3,197	Not available	7.5%
6 BR	$3,677	Not available	7.5%
7 BR	$4,228	Not available	7.5%
8 BR	$4,862	Not available	7.5%

Purchase Price Calculator

Maximum purchase price

$205,563

Cost breakdown

+Likely effective rent$1,800

HUD FMR$1,790

Market rent$1,800

Est. payment standard (100%)Used$1,800

-Principal and interest-$1,039

Loan amount$164,450

Down payment$41,113

Rate6.50%

Term30 years

-Operating costs-$561

Property taxes-$206

Insurance-$175

Utilities$0

HOA$0

Management-$180

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$28,898(70.3% ROI)

Projected value

$221,369

Return breakdown

Property appreciation+$15,806

Loan principal paid down+$5,892

Rental cash flow+$7,200

5-year hold

+$49,519(120.4% ROI)

Projected value

$232,575

Return breakdown

Property appreciation+$27,013

Loan principal paid down+$10,507

Rental cash flow+$12,000

10-year hold

+$106,611(259.3% ROI)

Projected value

$263,138

Return breakdown

Property appreciation+$57,575

Loan principal paid down+$25,036

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.99ratio

FMR$1,580

Market$1,600

vs market-$20

FMR is near market; voucher and private rents are aligned.

0.99

1 BR

1.12ratio

FMR$1,640

Market$1,460

vs market+$180

FMR is above market; underwrite to market rent.

1.12

2 BR

0.99ratio

FMR$1,790

Market$1,800

vs market-$10

FMR is near market; voucher and private rents are aligned.

0.99

3 BR

1.13ratio

FMR$2,190

Market$1,940

vs market+$250

FMR is above market; underwrite to market rent.

1.13

4 BR

1.21ratio

FMR$2,780

Market$2,300

vs market+$480

FMR is above market; underwrite to market rent.

1.21

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 28027 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28027 (Concord, NC) is $1,790 a month. That is up 7.8% from $1,660 in FY 2026. Concord is in the Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 19 ZIP codes in Cabarrus County, 28027 has the 7th-highest two-bedroom rent (county range $1,020–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28027 is 56% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28027
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,450	$1,580	+9.0%	$1,422–$1,738
1BR	$1,510	$1,640	+8.6%	$1,476–$1,804
2BR	$1,660	$1,790	+7.8%	$1,611–$1,969
3BR	$2,040	$2,190	+7.4%	$1,971–$2,409
4BR	$2,600	$2,780	+6.9%	$2,502–$3,058

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28027
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,580	$1,640	$1,790	$2,190	$2,780
FY 2026	$1,450	$1,510	$1,660	$2,040	$2,600
FY 2025	$1,480	$1,540	$1,700	$2,100	$2,660
FY 2024	$1,210	$1,250	$1,400	$1,740	$2,240
FY 2023	$1,070	$1,090	$1,230	$1,560	$2,010

Two-bedroom rent in nearby Cabarrus County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 28027
28025	$1,520	−15.1%
28026	$1,630	−8.9%
28027Current	$1,790	—
28036	$2,040	+14.0%
28071	$1,120	−37.4%
28075	$2,680	+49.7%
28078	$2,150	+20.1%
28081	$1,350	−24.6%
28082	$1,630	−8.9%
28083	$1,420	−20.7%
28097	$1,020	−43.0%
28107	$1,440	−19.6%

Questions about ZIP 28027 rents

How much will Section 8 pay for a two-bedroom in ZIP 28027?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,790, that basic range is $1,611 to $1,969 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 28027 in?

ZIP 28027 is in the Charlotte-Concord-Gastonia, NC-SC 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 28027 for FY 2027?

The two-bedroom FMR rose 7.8%, from $1,660 in FY 2026 to $1,790 in FY 2027. Since FY 2023 it has risen 45.5%.

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 rent Concord, NC fair market rent NC statewide rents What is SAFMR?Data sources