FMR is below market; voucher rent may lag private rents.
0.87
1 BR
1 BR
0.72ratio
FMR$1,800
Market$2,500
vs market-$700
FMR is below market; voucher rent may lag private rents.
0.72
2 BR
2 BR
0.77ratio
FMR$1,960
Market$2,540
vs market-$580
FMR is below market; voucher rent may lag private rents.
0.77
3 BR
3 BR
0.69ratio
FMR$2,390
Market$3,460
vs market-$1,070
FMR is below market; voucher rent may lag private rents.
0.69
4 BR
4 BR
0.78ratio
FMR$3,040
Market$3,900
vs market-$860
FMR is below market; voucher rent may lag private rents.
0.78
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
--
ZIP 28274 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28274 (Charlotte, NC) is $1,960 a month. That is up 6.5% from $1,840 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, 28274 is tied for the 20th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28274 is 71% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 28274
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,600
$1,730
+8.1%
$1,557–$1,903
1BR
$1,680
$1,800
+7.1%
$1,620–$1,980
2BR
$1,840
$1,960
+6.5%
$1,764–$2,156
3BR
$2,270
$2,390
+5.3%
$2,151–$2,629
4BR
$2,880
$3,040
+5.6%
$2,736–$3,344
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 28274
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,730
$1,800
$1,960
$2,390
$3,040
FY 2026
$1,600
$1,680
$1,840
$2,270
$2,880
FY 2025
$1,730
$1,800
$1,990
$2,450
$3,110
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 28274?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,960, that basic range is $1,764 to $2,156 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 28274 in?
ZIP 28274 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 28274 for FY 2027?
The two-bedroom FMR rose 6.5%, from $1,840 in FY 2026 to $1,960 in FY 2027. Since FY 2024 it has risen 18.8%.
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