FMR is below market; voucher rent may lag private rents.
0.75
1 BR
1 BR
0.84ratio
FMR$1,510
Market$1,800
vs market-$290
FMR is below market; voucher rent may lag private rents.
0.84
2 BR
2 BR
0.83ratio
FMR$1,660
Market$2,000
vs market-$340
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR
0.97ratio
FMR$2,010
Market$2,070
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
1.26ratio
FMR$2,780
Market$2,210
vs market+$570
FMR is above market; underwrite to market rent.
1.26
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 28754 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28754 (Mars Hill, NC) is $1,660 a month. That is up 21.2% from $1,370 in FY 2026. Mars Hill is in the Yancey 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 $1,050. Among 6 ZIP codes in Yancey County, 28754 is tied for the highest two-bedroom rent (county range $1,010–$1,660). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28754 is 45% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 28754
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,170
$1,300
+11.1%
$1,170–$1,430
1BR
$1,220
$1,510
+23.8%
$1,359–$1,661
2BR
$1,370
$1,660
+21.2%
$1,494–$1,826
3BR
$1,760
$2,010
+14.2%
$1,809–$2,211
4BR
$2,320
$2,780
+19.8%
$2,502–$3,058
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 28754
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,300
$1,510
$1,660
$2,010
$2,780
FY 2026
$1,170
$1,220
$1,370
$1,760
$2,320
FY 2025
$1,290
$1,350
$1,520
$1,950
$2,570
FY 2024
$1,150
$1,170
$1,320
$1,760
$2,250
FY 2023
$1,070
$1,090
$1,250
$1,700
$2,130
Two-bedroom rent in nearby Yancey County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 28754?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,050, which applies unless the housing authority uses Small Area FMRs, that basic range is $945 to $1,155 a month; under the ZIP-level Small Area FMR of $1,660 it would be $1,494 to $1,826. 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 28754 in?
ZIP 28754 is in the Yancey County, NC non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,050.
How much did fair market rent change in ZIP 28754 for FY 2027?
The two-bedroom FMR rose 21.2%, from $1,370 in FY 2026 to $1,660 in FY 2027. Since FY 2023 it has risen 32.8%.
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