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Wilkes County/Mc Grady/28649

28649

ZIPSAFMR
Wilkes County, NC
Zillow

ZIP Investment Score

108Above average

095130300
BRFMR
Eff. Rent
0 BR$870$870
1 BR$880$880
2 BR$1,020$1,020
3 BR$1,370$1,370
4 BR$1,560$1,560
5 BR$1,794Not available
6 BR$2,063Not available
7 BR$2,373Not available
8 BR$2,728Not available

Purchase Price Calculator

Maximum purchase price
$89,655

Cost breakdown

+Likely effective rent$1,020
HUD FMRUsed$1,020
Market rentN/A
Est. payment standardN/A
-Principal and interest-$453
Loan amount$71,724
Down payment$17,931
Rate6.50%
Term30 years
-Operating costs-$367
Property taxes-$90
Insurance-$175
Utilities$0
HOA$0
Management-$102
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,663(92.9% ROI)
Projected value
$96,549
Return breakdown
Property appreciation+$6,894
Loan principal paid down+$2,570
Rental cash flow+$7,200
5-year hold
+$28,364(158.2% ROI)
Projected value
$101,437
Return breakdown
Property appreciation+$11,781
Loan principal paid down+$4,582
Rental cash flow+$12,000
10-year hold
+$60,030(334.8% ROI)
Projected value
$114,766
Return breakdown
Property appreciation+$25,111
Loan principal paid down+$10,919
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 28649 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28649 (Mc Grady, NC) is $1,020 a month. That is up 8.5% from $940 in FY 2026. Mc Grady 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, 28649 is tied for the 14th-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28649 is 11% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28649
BedroomsFY 2027Change90–110% range
Studio$870+10.1%$783–$957
1BR$880+10.0%$792–$968
2BR$1,020+8.5%$918–$1,122
3BR$1,370+10.5%$1,233–$1,507
4BR$1,5600.0%$1,404–$1,716

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28649
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$870$880$1,020$1,370$1,560
FY 2026$790$800$940$1,240$1,560
FY 2025$780$810$930$1,240$1,390
FY 2024area FMR$713$745$856$1,139$1,274
FY 2023area FMR$635$662$771$1,033$1,152

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Wilkes County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28649
28635$1,040+2.0%
28640$1,010−1.0%
28642$1,010−1.0%
28644$1,040+2.0%
28645$1,060+3.9%
28649Current$1,020—
28651$1,010−1.0%
28654$1,260+23.5%
28656$1,010−1.0%
28659$1,050+2.9%
28665$1,010−1.0%
28669$1,030+1.0%

Questions about ZIP 28649 rents

How much will Section 8 pay for a two-bedroom in ZIP 28649?

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 $1,020 it would be $918 to $1,122. 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 28649 in?

ZIP 28649 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 28649 for FY 2027?

The two-bedroom FMR rose 8.5%, from $940 in FY 2026 to $1,020 in FY 2027. Since FY 2025 it has risen 9.7%.

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