28145

ZIPSAFMR

Rowan County, NC

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$990	$1,060	2.5%
1 BR	$1,010	$1,070	2.8%
2 BR	$1,260	$1,240	4.0%
3 BR	$1,600	$1,660	2.6%
4 BR	$2,110	$2,120	7.5%
5 BR	$2,427	Not available	7.5%
6 BR	$2,790	Not available	7.5%
7 BR	$3,209	Not available	7.5%
8 BR	$3,690	Not available	7.5%

Purchase Price Calculator

Maximum purchase price

$122,347

Cost breakdown

+Likely effective rent$1,240

HUD FMR$1,260

Market rentUsed$1,240

Est. payment standard (99%)$1,250

-Principal and interest-$619

Loan amount$97,878

Down payment$24,469

Rate6.50%

Term30 years

-Operating costs-$421

Property taxes-$122

Insurance-$175

Utilities$0

HOA$0

Management-$124

=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

+$20,114(82.2% ROI)

Projected value

$131,754

Return breakdown

Property appreciation+$9,407

Loan principal paid down+$3,507

Rental cash flow+$7,200

5-year hold

+$34,331(140.3% ROI)

Projected value

$138,424

Return breakdown

Property appreciation+$16,077

Loan principal paid down+$6,253

Rental cash flow+$12,000

10-year hold

+$73,168(299.0% ROI)

Projected value

$156,615

Return breakdown

Property appreciation+$34,268

Loan principal paid down+$14,901

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.90ratio

FMR$990

Market$1,100

vs market-$110

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

0.90

1 BR

0.92ratio

FMR$1,010

Market$1,100

vs market-$90

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

0.92

2 BR

1.02ratio

FMR$1,260

Market$1,240

vs market+$20

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

1.02

3 BR

0.94ratio

FMR$1,600

Market$1,700

vs market-$100

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

0.94

4 BR

1.00ratio

FMR$2,110

Market$2,120

vs market-$10

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

1.00

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 28145 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28145 (Salisbury, NC) is $1,260 a month. That is up 5.0% from $1,200 in FY 2026. Salisbury is in the Rowan 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 $1,262. Among 22 ZIP codes in Rowan County, 28145 has the 12th-highest two-bedroom rent (county range $1,020–$2,040). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28145 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28145
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$950	$990	+4.2%	$891–$1,089
1BR	$960	$1,010	+5.2%	$909–$1,111
2BR	$1,200	$1,260	+5.0%	$1,134–$1,386
3BR	$1,580	$1,600	+1.3%	$1,440–$1,760
4BR	$2,010	$2,110	+5.0%	$1,899–$2,321

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28145
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$990	$1,010	$1,260	$1,600	$2,110
FY 2026	$950	$960	$1,200	$1,580	$2,010
FY 2025	$1,050	$1,050	$1,290	$1,700	$2,170
FY 2024	$920	$930	$1,120	$1,480	$1,700
FY 2023	$800	$810	$980	$1,270	$1,390

Two-bedroom rent in nearby Rowan County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 28145
28083	$1,420	+12.7%
28088	$1,280	+1.6%
28115	$1,490	+18.3%
28125	$1,390	+10.3%
28127	$1,020	−19.0%
28137	$1,310	+4.0%
28138	$1,250	−0.8%
28144	$1,310	+4.0%
28145Current	$1,260	—
28146	$1,140	−9.5%
28147	$1,320	+4.8%
28159	$1,290	+2.4%

Questions about ZIP 28145 rents

How much will Section 8 pay for a two-bedroom in ZIP 28145?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,262, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,136 to $1,388 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. 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 28145 in?

ZIP 28145 is in the Rowan County, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,262.

How much did fair market rent change in ZIP 28145 for FY 2027?

The two-bedroom FMR rose 5.0%, from $1,200 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 28.6%.

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