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Mecklenburg County/Charlotte/28278

28278

ZIPSAFMR
Mecklenburg County, NC
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$1,870$1,790
1 BR$1,950$1,770
2 BR$2,120$1,910
3 BR$2,590$2,020
4 BR$3,290$2,320
5 BR$3,783Not available
6 BR$4,351Not available
7 BR$5,004Not available
8 BR$5,754Not available

Purchase Price Calculator

Maximum purchase price
$221,909

Cost breakdown

+Likely effective rent$1,910
HUD FMR$2,120
Market rentUsed$1,910
Est. payment standard (94%)$1,980
-Principal and interest-$1,122
Loan amount$177,527
Down payment$44,382
Rate6.50%
Term30 years
-Operating costs-$588
Property taxes-$222
Insurance-$175
Utilities$0
HOA$0
Management-$191
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,623(69.0% ROI)
Projected value
$238,971
Return breakdown
Property appreciation+$17,063
Loan principal paid down+$6,360
Rental cash flow+$7,200
5-year hold
+$52,503(118.3% ROI)
Projected value
$251,069
Return breakdown
Property appreciation+$29,161
Loan principal paid down+$11,342
Rental cash flow+$12,000
10-year hold
+$113,180(255.0% ROI)
Projected value
$284,062
Return breakdown
Property appreciation+$62,153
Loan principal paid down+$27,026
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.04
1 BR
1.10
2 BR
1.11
3 BR
1.28
4 BR
1.42
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28278 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28278 (Charlotte, NC) is $2,120 a month. That is up 1.9% from $2,080 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, 28278 has the 10th-highest two-bedroom rent (county range $1,440–$2,680). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28278 is 85% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28278
BedroomsFY 2027Change90–110% range
Studio$1,870+3.3%$1,683–$2,057
1BR$1,950+2.6%$1,755–$2,145
2BR$2,120+1.9%$1,908–$2,332
3BR$2,590+1.2%$2,331–$2,849
4BR$3,290+1.2%$2,961–$3,619

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28278
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,870$1,950$2,120$2,590$3,290
FY 2026$1,810$1,900$2,080$2,560$3,250
FY 2025$1,970$2,040$2,260$2,790$3,530
FY 2024$1,710$1,750$1,970$2,450$3,150
FY 2023$1,460$1,500$1,690$2,140$2,770

Two-bedroom rent in nearby Mecklenburg County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28278
28269$2,060−2.8%
28270$2,080−1.9%
28271$1,890−10.8%
28273$2,200+3.8%
28274$1,960−7.5%
28277$2,340+10.4%
28278Current$2,120—
28280$1,890−10.8%
28281$1,890−10.8%
28282$1,890−10.8%
28284$1,890−10.8%
28285$1,890−10.8%

Questions about ZIP 28278 rents

How much will Section 8 pay for a two-bedroom in ZIP 28278?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,120, that basic range is $1,908 to $2,332 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 28278 in?

ZIP 28278 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 28278 for FY 2027?

The two-bedroom FMR rose 1.9%, from $2,080 in FY 2026 to $2,120 in FY 2027. Since FY 2023 it has risen 25.4%.

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

County fair market rentCharlotte, NC fair market rentNC statewide rentsWhat is SAFMR?Data sources