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New Hanover County/Wrightsville Beach/28480

28480

ZIPSAFMR
New Hanover County, NC
Zillow

ZIP Investment Score

36Below average

095130300
BRFMR
Eff. Rent
0 BR$1,780$1,960
1 BR$2,350$1,650
2 BR$2,560$2,340
3 BR$3,360$3,700
4 BR$3,360$3,700
5 BR$3,864Not available
6 BR$4,444Not available
7 BR$5,110Not available
8 BR$5,877Not available

Purchase Price Calculator

Maximum purchase price
$285,807

Cost breakdown

+Likely effective rent$2,340
HUD FMR$2,560
Market rentUsed$2,340
Est. payment standard (94%)$2,420
-Principal and interest-$1,445
Loan amount$228,645
Down payment$57,161
Rate6.50%
Term30 years
-Operating costs-$695
Property taxes-$286
Insurance-$175
Utilities$0
HOA$0
Management-$234
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,368(65.4% ROI)
Projected value
$307,782
Return breakdown
Property appreciation+$21,976
Loan principal paid down+$8,192
Rental cash flow+$7,200
5-year hold
+$64,166(112.3% ROI)
Projected value
$323,364
Return breakdown
Property appreciation+$37,557
Loan principal paid down+$14,608
Rental cash flow+$12,000
10-year hold
+$138,859(242.9% ROI)
Projected value
$365,857
Return breakdown
Property appreciation+$80,050
Loan principal paid down+$34,809
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.66
1 BR
1.42
2 BR
1.09
3 BR
0.83
4 BR
0.77
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28480 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28480 (Wrightsville Beach, NC) is $2,560 a month. That is up 3.6% from $2,470 in FY 2026. Wrightsville Beach 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, 28480 has the highest two-bedroom rent (county range $1,500–$2,560). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28480 is 124% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28480
BedroomsFY 2027Change90–110% range
Studio$1,780+4.7%$1,602–$1,958
1BR$2,350+4.4%$2,115–$2,585
2BR$2,560+3.6%$2,304–$2,816
3BR$3,360+3.7%$3,024–$3,696
4BR$3,360−2.6%$3,024–$3,696

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28480
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,780$2,350$2,560$3,360$3,360
FY 2026$1,700$2,250$2,470$3,240$3,450
FY 2025$1,630$2,140$2,370$3,130$3,730
FY 2024$1,540$2,020$2,270$3,000$3,840
FY 2023$1,280$1,660$1,890$2,510$3,220

Two-bedroom rent in nearby New Hanover County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28480
28404$1,710−33.2%
28405$1,740−32.0%
28406$1,710−33.2%
28408$1,710−33.2%
28409$1,940−24.2%
28410$1,710−33.2%
28411$2,100−18.0%
28412$1,780−30.5%
28428$1,840−28.1%
28429$1,500−41.4%
28449$1,750−31.6%
28480Current$2,560—

Questions about ZIP 28480 rents

How much will Section 8 pay for a two-bedroom in ZIP 28480?

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 $2,560 it would be $2,304 to $2,816. 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 28480 in?

ZIP 28480 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 28480 for FY 2027?

The two-bedroom FMR rose 3.6%, from $2,470 in FY 2026 to $2,560 in FY 2027. Since FY 2023 it has risen 35.4%.

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 rentWrightsville Beach, NC fair market rentNC statewide rentsWhat is SAFMR?Data sources