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Transylvania County/Balsam Grove/28708

28708

ZIPSAFMR
Transylvania County, NC
Zillow

ZIP Investment Score

67Below average

095130300
BRFMR
Eff. Rent
0 BR$1,000$1,000
1 BR$1,030$1,030
2 BR$1,230$1,230
3 BR$1,560$1,560
4 BR$1,880$1,880
5 BR$2,162Not available
6 BR$2,486Not available
7 BR$2,859Not available
8 BR$3,288Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMRUsed$1,230
Market rentN/A
Est. payment standardN/A
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
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 28708 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28708 (Balsam Grove, NC) is $1,230 a month. That is up 0.8% from $1,220 in FY 2026. Balsam Grove is in the Transylvania 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 $1,386. Among 12 ZIP codes in Transylvania County, 28708 is tied for the 11th-highest two-bedroom rent (county range $1,230–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28708 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28708
BedroomsFY 2027Change90–110% range
Studio$1,000+4.2%$900–$1,100
1BR$1,030+5.1%$927–$1,133
2BR$1,230+0.8%$1,107–$1,353
3BR$1,560+6.1%$1,404–$1,716
4BR$1,880+4.4%$1,692–$2,068

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28708
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,030$1,230$1,560$1,880
FY 2026$960$980$1,220$1,470$1,800
FY 2025$850$890$1,100$1,340$1,610
FY 2024area FMR$853$858$1,128$1,364$1,738
FY 2023area FMR$751$756$995$1,211$1,530

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

Two-bedroom rent in nearby Transylvania County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28708
28708Current$1,230—
28712$1,430+16.3%
28718$1,390+13.0%
28739$1,660+35.0%
28742$2,000+62.6%
28747$1,520+23.6%
28759$2,270+84.6%
28766$1,660+35.0%
28768$1,660+35.0%
28772$1,330+8.1%
28774$1,830+48.8%
28783$1,2300.0%

Questions about ZIP 28708 rents

How much will Section 8 pay for a two-bedroom in ZIP 28708?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,386, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,247 to $1,525 a month; under the ZIP-level Small Area FMR of $1,230 it would be $1,107 to $1,353. 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 28708 in?

ZIP 28708 is in the Transylvania County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,386.

How much did fair market rent change in ZIP 28708 for FY 2027?

The two-bedroom FMR rose 0.8%, from $1,220 in FY 2026 to $1,230 in FY 2027. Since FY 2025 it has risen 11.8%.

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