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Cabarrus County/Charlotte/28213

28213

ZIPSAFMR
Cabarrus County, NC
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,450$1,150
1 BR$1,520$1,340
2 BR$1,650$1,440
3 BR$2,010$1,880
4 BR$2,560$1,880
5 BR$2,944Not available
6 BR$3,386Not available
7 BR$3,893Not available
8 BR$4,477Not available

Purchase Price Calculator

Maximum purchase price
$152,067

Cost breakdown

+Likely effective rent$1,440
HUD FMR$1,650
Market rentUsed$1,440
Est. payment standard (92%)$1,510
-Principal and interest-$769
Loan amount$121,654
Down payment$30,413
Rate6.50%
Term30 years
-Operating costs-$471
Property taxes-$152
Insurance-$175
Utilities$0
HOA$0
Management-$144
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,251(76.5% ROI)
Projected value
$163,759
Return breakdown
Property appreciation+$11,693
Loan principal paid down+$4,359
Rental cash flow+$7,200
5-year hold
+$39,755(130.7% ROI)
Projected value
$172,050
Return breakdown
Property appreciation+$19,983
Loan principal paid down+$7,772
Rental cash flow+$12,000
10-year hold
+$85,112(279.9% ROI)
Projected value
$194,659
Return breakdown
Property appreciation+$42,592
Loan principal paid down+$18,520
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.26
1 BR
1.13
2 BR
1.15
3 BR
1.07
4 BR
1.36
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28213 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28213 (Charlotte, NC) is $1,650 a month. That is up 4.4% from $1,580 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 19 ZIP codes in Cabarrus County, 28213 has the 9th-highest two-bedroom rent (county range $1,020–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28213 is 44% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28213
BedroomsFY 2027Change90–110% range
Studio$1,450+5.1%$1,305–$1,595
1BR$1,520+5.6%$1,368–$1,672
2BR$1,650+4.4%$1,485–$1,815
3BR$2,010+3.1%$1,809–$2,211
4BR$2,560+3.6%$2,304–$2,816

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28213
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,450$1,520$1,650$2,010$2,560
FY 2026$1,380$1,440$1,580$1,950$2,470
FY 2025$1,440$1,500$1,660$2,050$2,600
FY 2024$1,250$1,280$1,440$1,790$2,300
FY 2023$1,090$1,120$1,260$1,600$2,060

Two-bedroom rent in nearby Cabarrus County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28213
28081$1,350−18.2%
28082$1,630−1.2%
28083$1,420−13.9%
28097$1,020−38.2%
28107$1,440−12.7%
28124$1,360−17.6%
28138$1,250−24.2%
28213Current$1,650—
28215$1,910+15.8%
28227$1,770+7.3%
28262$2,060+24.8%
28269$2,060+24.8%

Questions about ZIP 28213 rents

How much will Section 8 pay for a two-bedroom in ZIP 28213?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 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 28213 in?

ZIP 28213 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 28213 for FY 2027?

The two-bedroom FMR rose 4.4%, from $1,580 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 31.0%.

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