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Lenoir County/Kinston/28501

28501

ZIPSAFMR
Lenoir County, NC
Zillow

ZIP Investment Score

160High yield potential

095130300
BRFMR
Eff. Rent
0 BR$810$830
1 BR$820$830
2 BR$1,080$930
3 BR$1,440$1,070
4 BR$1,800$1,080
5 BR$2,070Not available
6 BR$2,380Not available
7 BR$2,738Not available
8 BR$3,148Not available

Purchase Price Calculator

Maximum purchase price
$76,281

Cost breakdown

+Likely effective rent$930
HUD FMR$1,080
Market rentUsed$930
Est. payment standard (91%)$980
-Principal and interest-$386
Loan amount$61,025
Down payment$15,256
Rate6.50%
Term30 years
-Operating costs-$344
Property taxes-$76
Insurance-$175
Utilities$0
HOA$0
Management-$93
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,252(100.0% ROI)
Projected value
$82,146
Return breakdown
Property appreciation+$5,865
Loan principal paid down+$2,186
Rental cash flow+$7,200
5-year hold
+$25,923(169.9% ROI)
Projected value
$86,305
Return breakdown
Property appreciation+$10,024
Loan principal paid down+$3,899
Rental cash flow+$12,000
10-year hold
+$54,656(358.3% ROI)
Projected value
$97,646
Return breakdown
Property appreciation+$21,365
Loan principal paid down+$9,290
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.96
1 BR
0.98
2 BR
1.16
3 BR
1.35
4 BR
1.67
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28501 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28501 (Kinston, NC) is $1,080 a month. That is down 9.2% from $1,190 in FY 2026. Kinston is in the Lenoir County, NC non-metropolitan 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 county-wide two-bedroom FMR of $1,012. Among 10 ZIP codes in Lenoir County, 28501 is tied for the 3rd-highest two-bedroom rent (county range $1,010–$1,120). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28501 is 6% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28501
BedroomsFY 2027Change90–110% range
Studio$810−10.0%$729–$891
1BR$820−9.9%$738–$902
2BR$1,080−9.2%$972–$1,188
3BR$1,440−10.0%$1,296–$1,584
4BR$1,800−9.5%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28501
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$810$820$1,080$1,440$1,800
FY 2026$900$910$1,190$1,600$1,990
FY 2025$840$850$1,110$1,500$1,880
FY 2024$760$760$990$1,370$1,680
FY 2023$730$740$970$1,350$1,520

Two-bedroom rent in nearby Lenoir County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28501
28501Current$1,080—
28504$1,050−2.8%
28525$1,010−6.5%
28526$1,0800.0%
28530$1,0800.0%
28538$1,0800.0%
28551$1,120+3.7%
28572$1,060−1.9%
28578$1,120+3.7%
28580$1,010−6.5%

Questions about ZIP 28501 rents

How much will Section 8 pay for a two-bedroom in ZIP 28501?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,012, which applies unless the housing authority uses Small Area FMRs, that basic range is $911 to $1,113 a month; under the ZIP-level Small Area FMR of $1,080 it would be $972 to $1,188. 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 28501 in?

ZIP 28501 is in the Lenoir County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,012.

How much did fair market rent change in ZIP 28501 for FY 2027?

The two-bedroom FMR fell 9.2%, from $1,190 in FY 2026 to $1,080 in FY 2027. Since FY 2023 it has risen 11.3%.

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