For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28223 (Charlotte, NC) is $1,920 a month. That is up 3.8% from $1,850 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, 28223 has the 25th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28223 is 68% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 28223
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,610
$1,690
+5.0%
$1,521–$1,859
1BR
$1,690
$1,760
+4.1%
$1,584–$1,936
2BR
$1,850
$1,920
+3.8%
$1,728–$2,112
3BR
$2,280
$2,340
+2.6%
$2,106–$2,574
4BR
$2,890
$2,980
+3.1%
$2,682–$3,278
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 28223
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,690
$1,760
$1,920
$2,340
$2,980
FY 2026
$1,610
$1,690
$1,850
$2,280
$2,890
FY 2025
$1,690
$1,750
$1,940
$2,400
$3,040
FY 2024
$1,430
$1,470
$1,650
$2,060
$2,630
FY 2023area FMR
$1,154
$1,180
$1,333
$1,691
$2,183
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Mecklenburg County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 28223?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,920, that basic range is $1,728 to $2,112 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 28223 in?
ZIP 28223 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 28223 for FY 2027?
The two-bedroom FMR rose 3.8%, from $1,850 in FY 2026 to $1,920 in FY 2027. Since FY 2024 it has risen 16.4%.
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