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Wilkes County/Lenoir/28645

28645

ZIPSAFMR
Wilkes County, NC
Zillow

ZIP Investment Score

91Below average

095130300
BRFMR
Eff. Rent
0 BR$850$870
1 BR$890$940
2 BR$1,060$1,090
3 BR$1,360$1,290
4 BR$1,780$1,430
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$100,057

Cost breakdown

+Likely effective rent$1,090
HUD FMR$1,060
Market rent$1,110
Est. payment standard (103%)Used$1,090
-Principal and interest-$506
Loan amount$80,046
Down payment$20,011
Rate6.50%
Term30 years
-Operating costs-$384
Property taxes-$100
Insurance-$175
Utilities$0
HOA$0
Management-$109
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,761(88.8% ROI)
Projected value
$107,751
Return breakdown
Property appreciation+$7,693
Loan principal paid down+$2,868
Rental cash flow+$7,200
5-year hold
+$30,262(151.2% ROI)
Projected value
$113,205
Return breakdown
Property appreciation+$13,148
Loan principal paid down+$5,114
Rental cash flow+$12,000
10-year hold
+$64,210(320.9% ROI)
Projected value
$128,081
Return breakdown
Property appreciation+$28,024
Loan principal paid down+$12,186
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.97
1 BR
0.93
2 BR
0.95
3 BR
1.05
4 BR
1.24
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28645 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28645 (Lenoir, NC) is $1,060 a month. That is down 7.8% from $1,150 in FY 2026. Lenoir is in the Wilkes 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 25 ZIP codes in Wilkes County, 28645 is tied for the 7th-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28645 is 7% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28645
BedroomsFY 2027Change90–110% range
Studio$850+7.6%$765–$935
1BR$890−2.2%$801–$979
2BR$1,060−7.8%$954–$1,166
3BR$1,360−2.9%$1,224–$1,496
4BR$1,780−7.8%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28645
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$890$1,060$1,360$1,780
FY 2026$790$910$1,150$1,400$1,930
FY 2025$730$820$1,030$1,260$1,750
FY 2024$720$740$900$1,170$1,340
FY 2023$630$630$770$1,010$1,150

Two-bedroom rent in nearby Wilkes County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28645
28624$1,070+0.9%
28635$1,040−1.9%
28640$1,010−4.7%
28642$1,010−4.7%
28644$1,040−1.9%
28645Current$1,060—
28649$1,020−3.8%
28651$1,010−4.7%
28654$1,260+18.9%
28656$1,010−4.7%
28659$1,050−0.9%
28665$1,010−4.7%

Questions about ZIP 28645 rents

How much will Section 8 pay for a two-bedroom in ZIP 28645?

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 $1,060 it would be $954 to $1,166. 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 28645 in?

ZIP 28645 is in the Wilkes 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 28645 for FY 2027?

The two-bedroom FMR fell 7.8%, from $1,150 in FY 2026 to $1,060 in FY 2027. Since FY 2023 it has risen 37.7%.

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