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Mecklenburg County/Charlotte/28209

28209

ZIPSAFMR
Mecklenburg County, NC
Zillow

ZIP Investment Score

53Below average

095130300
BRFMR
Eff. Rent
0 BR$1,700$1,320
1 BR$1,770$1,570
2 BR$1,930$2,120
3 BR$2,360$2,500
4 BR$3,000$3,070
5 BR$3,450Not available
6 BR$3,967Not available
7 BR$4,563Not available
8 BR$5,247Not available

Purchase Price Calculator

Maximum purchase price
$253,115

Cost breakdown

+Likely effective rent$2,120
HUD FMR$1,930
Market rent$2,230
Est. payment standard (110%)Used$2,120
-Principal and interest-$1,280
Loan amount$202,492
Down payment$50,623
Rate6.50%
Term30 years
-Operating costs-$640
Property taxes-$253
Insurance-$175
Utilities$0
HOA$0
Management-$212
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,917(67.0% ROI)
Projected value
$272,577
Return breakdown
Property appreciation+$19,462
Loan principal paid down+$7,255
Rental cash flow+$7,200
5-year hold
+$58,199(115.0% ROI)
Projected value
$286,376
Return breakdown
Property appreciation+$33,261
Loan principal paid down+$12,937
Rental cash flow+$12,000
10-year hold
+$125,721(248.3% ROI)
Projected value
$324,008
Return breakdown
Property appreciation+$70,893
Loan principal paid down+$30,827
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.29
1 BR
1.13
2 BR
0.87
3 BR
0.91
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28209 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28209 (Charlotte, NC) is $1,930 a month. That is up 3.2% from $1,870 in FY 2026. Charlotte 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 72 ZIP codes in Mecklenburg County, 28209 has the 24th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28209 is 69% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28209
BedroomsFY 2027Change90–110% range
Studio$1,700+4.3%$1,530–$1,870
1BR$1,770+3.5%$1,593–$1,947
2BR$1,930+3.2%$1,737–$2,123
3BR$2,360+2.6%$2,124–$2,596
4BR$3,000+2.7%$2,700–$3,300

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28209
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,700$1,770$1,930$2,360$3,000
FY 2026$1,630$1,710$1,870$2,300$2,920
FY 2025$1,760$1,820$2,020$2,490$3,160
FY 2024$1,500$1,540$1,730$2,160$2,760
FY 2023$1,300$1,330$1,500$1,900$2,460

Two-bedroom rent in nearby Mecklenburg County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28209
28203$2,680+38.9%
28204$2,380+23.3%
28205$1,680−13.0%
28206$1,580−18.1%
28207$1,960+1.6%
28208$1,500−22.3%
28209Current$1,930—
28210$1,940+0.5%
28211$2,090+8.3%
28212$1,750−9.3%
28213$1,650−14.5%
28214$1,940+0.5%

Questions about ZIP 28209 rents

How much will Section 8 pay for a two-bedroom in ZIP 28209?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,930, that basic range is $1,737 to $2,123 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 28209 in?

ZIP 28209 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 28209 for FY 2027?

The two-bedroom FMR rose 3.2%, from $1,870 in FY 2026 to $1,930 in FY 2027. Since FY 2023 it has risen 28.7%.

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