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New Hanover County/Wilmington/28412

28412

ZIPSAFMR
New Hanover County, NC
Zillow

ZIP Investment Score

105Above average

095130300
BRFMR
Eff. Rent
0 BR$1,240$1,360
1 BR$1,640$1,460
2 BR$1,780$1,750
3 BR$2,340$2,180
4 BR$2,340$2,570
5 BR$2,691Not available
6 BR$3,095Not available
7 BR$3,559Not available
8 BR$4,093Not available

Purchase Price Calculator

Maximum purchase price
$198,133

Cost breakdown

+Likely effective rent$1,750
HUD FMR$1,780
Market rentUsed$1,750
Est. payment standard (99%)$1,760
-Principal and interest-$1,002
Loan amount$158,506
Down payment$39,627
Rate6.50%
Term30 years
-Operating costs-$548
Property taxes-$198
Insurance-$175
Utilities$0
HOA$0
Management-$175
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,113(70.9% ROI)
Projected value
$213,367
Return breakdown
Property appreciation+$15,235
Loan principal paid down+$5,679
Rental cash flow+$7,200
5-year hold
+$48,163(121.5% ROI)
Projected value
$224,169
Return breakdown
Property appreciation+$26,036
Loan principal paid down+$10,127
Rental cash flow+$12,000
10-year hold
+$103,625(261.5% ROI)
Projected value
$253,627
Return breakdown
Property appreciation+$55,494
Loan principal paid down+$24,131
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.62
1 BR
1.12
2 BR
1.02
3 BR
1.07
4 BR
0.79
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28412 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28412 (Wilmington, NC) is $1,780 a month. That is up 2.3% from $1,740 in FY 2026. Wilmington is in the Wilmington, NC HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,705. Among 15 ZIP codes in New Hanover County, 28412 has the 5th-highest two-bedroom rent (county range $1,500–$2,560). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28412 is 55% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28412
BedroomsFY 2027Change90–110% range
Studio$1,240+3.3%$1,116–$1,364
1BR$1,640+3.1%$1,476–$1,804
2BR$1,780+2.3%$1,602–$1,958
3BR$2,340+2.6%$2,106–$2,574
4BR$2,340−3.7%$2,106–$2,574

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28412
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,240$1,640$1,780$2,340$2,340
FY 2026$1,200$1,590$1,740$2,280$2,430
FY 2025$1,100$1,450$1,600$2,110$2,520
FY 2024$1,040$1,370$1,540$2,030$2,600
FY 2023$890$1,160$1,320$1,750$2,250

Two-bedroom rent in nearby New Hanover County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28412
28401$1,500−15.7%
28402$1,710−3.9%
28403$1,690−5.1%
28404$1,710−3.9%
28405$1,740−2.2%
28406$1,710−3.9%
28408$1,710−3.9%
28409$1,940+9.0%
28410$1,710−3.9%
28411$2,100+18.0%
28412Current$1,780—
28428$1,840+3.4%

Questions about ZIP 28412 rents

How much will Section 8 pay for a two-bedroom in ZIP 28412?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,705, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,535 to $1,876 a month; under the ZIP-level Small Area FMR of $1,780 it would be $1,602 to $1,958. 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 28412 in?

ZIP 28412 is in the Wilmington, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,705.

How much did fair market rent change in ZIP 28412 for FY 2027?

The two-bedroom FMR rose 2.3%, from $1,740 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 34.8%.

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

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