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Buncombe County/Barnardsville/28709

28709

ZIPSAFMR
Buncombe County, NC
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,720$1,720
1 BR$1,990$1,990
2 BR$2,170$2,170
3 BR$2,590$2,590
4 BR$3,620$3,620
5 BR$4,163Not available
6 BR$4,787Not available
7 BR$5,506Not available
8 BR$6,331Not available

Purchase Price Calculator

Maximum purchase price
$260,545

Cost breakdown

+Likely effective rent$2,170
HUD FMRUsed$2,170
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,317
Loan amount$208,436
Down payment$52,109
Rate6.50%
Term30 years
-Operating costs-$653
Property taxes-$261
Insurance-$175
Utilities$0
HOA$0
Management-$217
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,701(66.6% ROI)
Projected value
$280,578
Return breakdown
Property appreciation+$20,033
Loan principal paid down+$7,468
Rental cash flow+$7,200
5-year hold
+$59,555(114.3% ROI)
Projected value
$294,782
Return breakdown
Property appreciation+$34,238
Loan principal paid down+$13,317
Rental cash flow+$12,000
10-year hold
+$128,707(247.0% ROI)
Projected value
$333,519
Return breakdown
Property appreciation+$72,975
Loan principal paid down+$31,732
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
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Mortgage rate
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ZIP 28709 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28709 (Barnardsville, NC) is $2,170 a month. That is up 0.9% from $2,150 in FY 2026. Barnardsville is in the Asheville, 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 $1,866. Among 33 ZIP codes in Buncombe County, 28709 has the 3rd-highest two-bedroom rent (county range $1,660–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28709 is 90% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28709
BedroomsFY 2027Change90–110% range
Studio$1,720+2.4%$1,548–$1,892
1BR$1,990+1.5%$1,791–$2,189
2BR$2,170+0.9%$1,953–$2,387
3BR$2,590−0.8%$2,331–$2,849
4BR$3,620+0.3%$3,258–$3,982

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28709
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,720$1,990$2,170$2,590$3,620
FY 2026$1,680$1,960$2,150$2,610$3,610
FY 2025$1,380$1,580$1,750$2,180$2,940
FY 2024$1,280$1,340$1,510$1,930$2,560
FY 2023$1,110$1,130$1,280$1,700$2,180

Two-bedroom rent in nearby Buncombe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28709
28701$1,660−23.5%
28704$2,070−4.6%
28709Current$2,170—
28711$1,810−16.6%
28714$1,660−23.5%
28715$1,820−16.1%
28716$1,660−23.5%
28721$1,660−23.5%
28728$1,950−10.1%
28730$1,700−21.7%
28732$1,870−13.8%
28746$1,660−23.5%

Questions about ZIP 28709 rents

How much will Section 8 pay for a two-bedroom in ZIP 28709?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,866, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,679 to $2,053 a month; under the ZIP-level Small Area FMR of $2,170 it would be $1,953 to $2,387. 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 28709 in?

ZIP 28709 is in the Asheville, NC MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,866.

How much did fair market rent change in ZIP 28709 for FY 2027?

The two-bedroom FMR rose 0.9%, from $2,150 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has risen 69.5%.

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