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Buncombe County/Fletcher/28732

28732

ZIPSAFMR
Buncombe County, NC
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,480$1,570
1 BR$1,720$1,470
2 BR$1,870$1,740
3 BR$2,230$2,310
4 BR$3,120$2,900
5 BR$3,588Not available
6 BR$4,126Not available
7 BR$4,745Not available
8 BR$5,457Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMR$1,870
Market rentUsed$1,740
Est. payment standard (95%)$1,790
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
1.17
2 BR
1.07
3 BR
0.94
4 BR
1.08
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28732 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28732 (Fletcher, NC) is $1,870 a month. That is up 0.5% from $1,860 in FY 2026. Fletcher 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, 28732 has the 15th-highest two-bedroom rent (county range $1,660–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28732 is 63% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28732
BedroomsFY 2027Change90–110% range
Studio$1,480+1.4%$1,332–$1,628
1BR$1,720+1.2%$1,548–$1,892
2BR$1,870+0.5%$1,683–$2,057
3BR$2,230−1.3%$2,007–$2,453
4BR$3,1200.0%$2,808–$3,432

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28732
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,480$1,720$1,870$2,230$3,120
FY 2026$1,460$1,700$1,860$2,260$3,120
FY 2025$1,350$1,430$1,600$2,060$2,700
FY 2024$1,500$1,580$1,770$2,280$3,000
FY 2023$1,350$1,380$1,560$2,070$2,660

Two-bedroom rent in nearby Buncombe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28732
28709$2,170+16.0%
28711$1,810−3.2%
28714$1,660−11.2%
28715$1,820−2.7%
28716$1,660−11.2%
28721$1,660−11.2%
28728$1,950+4.3%
28730$1,700−9.1%
28732Current$1,870—
28746$1,660−11.2%
28748$1,670−10.7%
28753$1,660−11.2%

Questions about ZIP 28732 rents

How much will Section 8 pay for a two-bedroom in ZIP 28732?

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 $1,870 it would be $1,683 to $2,057. 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 28732 in?

ZIP 28732 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 28732 for FY 2027?

The two-bedroom FMR rose 0.5%, from $1,860 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 19.9%.

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