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Catawba County/Hildebran/28637

28637

ZIPSAFMR
Catawba County, NC
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$850$940
1 BR$850$940
2 BR$1,010$1,110
3 BR$1,240$1,360
4 BR$1,510$1,660
5 BR$1,736Not available
6 BR$1,997Not available
7 BR$2,297Not available
8 BR$2,641Not available

Purchase Price Calculator

Maximum purchase price
$103,029

Cost breakdown

+Likely effective rent$1,110
HUD FMR$1,010
Market rent$1,170
Est. payment standard (110%)Used$1,110
-Principal and interest-$521
Loan amount$82,423
Down payment$20,606
Rate6.50%
Term30 years
-Operating costs-$389
Property taxes-$103
Insurance-$175
Utilities$0
HOA$0
Management-$111
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,075(87.7% ROI)
Projected value
$110,951
Return breakdown
Property appreciation+$7,922
Loan principal paid down+$2,953
Rental cash flow+$7,200
5-year hold
+$30,805(149.5% ROI)
Projected value
$116,568
Return breakdown
Property appreciation+$13,539
Loan principal paid down+$5,266
Rental cash flow+$12,000
10-year hold
+$65,405(317.4% ROI)
Projected value
$131,886
Return breakdown
Property appreciation+$28,857
Loan principal paid down+$12,548
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.80
2 BR
0.86
3 BR
0.76
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28637 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28637 (Hildebran, NC) is $1,010 a month. That is up 4.1% from $970 in FY 2026. Hildebran is in the Hickory-Lenoir-Morganton, NC MSA. 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 $1,147. Among 16 ZIP codes in Catawba County, 28637 is tied for the 14th-highest two-bedroom rent (county range $1,010–$1,720). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28637 is 12% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28637
BedroomsFY 2027Change90–110% range
Studio$850+11.8%$765–$935
1BR$850+6.3%$765–$935
2BR$1,010+4.1%$909–$1,111
3BR$1,240+1.6%$1,116–$1,364
4BR$1,510+2.7%$1,359–$1,661

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28637
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$850$1,010$1,240$1,510
FY 2026$760$800$970$1,220$1,470
FY 2025$730$770$940$1,200$1,410
FY 2024$720$750$910$1,180$1,350
FY 2023$630$630$770$1,010$1,150

Two-bedroom rent in nearby Catawba County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28637
28601$1,320+30.7%
28602$1,250+23.8%
28603$1,250+23.8%
28609$1,520+50.5%
28610$1,170+15.8%
28612$1,130+11.9%
28613$1,130+11.9%
28637Current$1,010—
28650$1,0100.0%
28658$1,260+24.8%
28673$1,620+60.4%
28682$1,720+70.3%

Questions about ZIP 28637 rents

How much will Section 8 pay for a two-bedroom in ZIP 28637?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,147, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,032 to $1,262 a month; under the ZIP-level Small Area FMR of $1,010 it would be $909 to $1,111. 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 28637 in?

ZIP 28637 is in the Hickory-Lenoir-Morganton, NC MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,147.

How much did fair market rent change in ZIP 28637 for FY 2027?

The two-bedroom FMR rose 4.1%, from $970 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 31.2%.

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