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Mecklenburg County/Charlotte/28217

28217

ZIPSAFMR
Mecklenburg County, NC
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$1,790$1,350
1 BR$1,860$1,600
2 BR$2,030$1,640
3 BR$2,480$1,940
4 BR$3,150$2,110
5 BR$3,622Not available
6 BR$4,166Not available
7 BR$4,791Not available
8 BR$5,509Not available

Purchase Price Calculator

Maximum purchase price
$181,787

Cost breakdown

+Likely effective rent$1,640
HUD FMR$2,030
Market rentUsed$1,640
Est. payment standard (90%)$1,830
-Principal and interest-$919
Loan amount$145,429
Down payment$36,357
Rate6.50%
Term30 years
-Operating costs-$521
Property taxes-$182
Insurance-$175
Utilities$0
HOA$0
Management-$164
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,388(72.6% ROI)
Projected value
$195,765
Return breakdown
Property appreciation+$13,978
Loan principal paid down+$5,210
Rental cash flow+$7,200
5-year hold
+$45,180(124.3% ROI)
Projected value
$205,675
Return breakdown
Property appreciation+$23,888
Loan principal paid down+$9,292
Rental cash flow+$12,000
10-year hold
+$97,056(266.9% ROI)
Projected value
$232,703
Return breakdown
Property appreciation+$50,916
Loan principal paid down+$22,140
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.33
1 BR
1.16
2 BR
1.24
3 BR
1.28
4 BR
1.49
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28217 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28217 (Charlotte, NC) is $2,030 a month. That is up 3.6% from $1,960 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, 28217 has the 16th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28217 is 77% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28217
BedroomsFY 2027Change90–110% range
Studio$1,790+4.7%$1,611–$1,969
1BR$1,860+3.9%$1,674–$2,046
2BR$2,030+3.6%$1,827–$2,233
3BR$2,480+2.9%$2,232–$2,728
4BR$3,150+2.6%$2,835–$3,465

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28217
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,790$1,860$2,030$2,480$3,150
FY 2026$1,710$1,790$1,960$2,410$3,070
FY 2025$1,790$1,860$2,060$2,540$3,220
FY 2024$1,500$1,540$1,730$2,160$2,760
FY 2023$1,260$1,290$1,460$1,850$2,390

Two-bedroom rent in nearby Mecklenburg County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28217
28211$2,090+3.0%
28212$1,750−13.8%
28213$1,650−18.7%
28214$1,940−4.4%
28215$1,910−5.9%
28216$1,840−9.4%
28217Current$2,030—
28219$1,890−6.9%
28220$1,890−6.9%
28221$1,890−6.9%
28222$1,890−6.9%
28223$1,920−5.4%

Questions about ZIP 28217 rents

How much will Section 8 pay for a two-bedroom in ZIP 28217?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,030, that basic range is $1,827 to $2,233 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 28217 in?

ZIP 28217 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 28217 for FY 2027?

The two-bedroom FMR rose 3.6%, from $1,960 in FY 2026 to $2,030 in FY 2027. Since FY 2023 it has risen 39.0%.

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