FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR
1.01ratio
FMR$1,890
Market$1,870
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR
1.07ratio
FMR$2,310
Market$2,150
vs market+$160
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR
1.05ratio
FMR$2,940
Market$2,790
vs market+$150
FMR is near market; voucher and private rents are aligned.
1.05
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
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ZIP 28233 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28233 (Charlotte, NC) is $1,890 a month. That is up 5.6% from $1,790 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, 28233 is tied for the 27th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28233 is 65% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 28233
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,560
$1,670
+7.1%
$1,503–$1,837
1BR
$1,630
$1,740
+6.7%
$1,566–$1,914
2BR
$1,790
$1,890
+5.6%
$1,701–$2,079
3BR
$2,200
$2,310
+5.0%
$2,079–$2,541
4BR
$2,800
$2,940
+5.0%
$2,646–$3,234
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 28233
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,670
$1,740
$1,890
$2,310
$2,940
FY 2026
$1,560
$1,630
$1,790
$2,200
$2,800
FY 2025
$1,690
$1,750
$1,940
$2,390
$3,030
FY 2024
$1,430
$1,470
$1,650
$2,060
$2,630
FY 2023
$1,230
$1,260
$1,420
$1,800
$2,330
Two-bedroom rent in nearby Mecklenburg County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 28233?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,890, that basic range is $1,701 to $2,079 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 28233 in?
ZIP 28233 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 28233 for FY 2027?
The two-bedroom FMR rose 5.6%, from $1,790 in FY 2026 to $1,890 in FY 2027. Since FY 2023 it has risen 33.1%.
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