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McDowell County/Old Fort/28762

28762

ZIPSAFMR
McDowell County, NC
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$1,300$1,400
1 BR$1,510$1,460
2 BR$1,660$1,560
3 BR$2,010$1,790
4 BR$2,780$1,860
5 BR$3,197Not available
6 BR$3,677Not available
7 BR$4,228Not available
8 BR$4,862Not available

Purchase Price Calculator

Maximum purchase price
$169,899

Cost breakdown

+Likely effective rent$1,560
HUD FMR$1,660
Market rentUsed$1,560
Est. payment standard (96%)$1,600
-Principal and interest-$859
Loan amount$135,919
Down payment$33,980
Rate6.50%
Term30 years
-Operating costs-$501
Property taxes-$170
Insurance-$175
Utilities$0
HOA$0
Management-$156
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,133(74.0% ROI)
Projected value
$182,962
Return breakdown
Property appreciation+$13,064
Loan principal paid down+$4,870
Rental cash flow+$7,200
5-year hold
+$43,010(126.6% ROI)
Projected value
$192,225
Return breakdown
Property appreciation+$22,326
Loan principal paid down+$8,684
Rental cash flow+$12,000
10-year hold
+$92,278(271.6% ROI)
Projected value
$217,485
Return breakdown
Property appreciation+$47,586
Loan principal paid down+$20,692
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.89
1 BR
1.03
2 BR
1.06
3 BR
1.12
4 BR
1.49
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28762 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28762 (Old Fort, NC) is $1,660 a month. That is up 16.1% from $1,430 in FY 2026. Old Fort is in the McDowell 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 10 ZIP codes in McDowell County, 28762 is tied for the 2nd-highest two-bedroom rent (county range $1,010–$1,810). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28762 is 45% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28762
BedroomsFY 2027Change90–110% range
Studio$1,300+6.6%$1,170–$1,430
1BR$1,510+18.9%$1,359–$1,661
2BR$1,660+16.1%$1,494–$1,826
3BR$2,010+9.8%$1,809–$2,211
4BR$2,780+14.9%$2,502–$3,058

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28762
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,300$1,510$1,660$2,010$2,780
FY 2026$1,220$1,270$1,430$1,830$2,420
FY 2025$1,350$1,410$1,580$2,030$2,680
FY 2024$1,490$1,560$1,750$2,250$2,970
FY 2023$1,330$1,350$1,530$2,030$2,610

Two-bedroom rent in nearby McDowell County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28762
28167$1,120−32.5%
28655$1,6600.0%
28657$1,010−39.2%
28711$1,810+9.0%
28714$1,6600.0%
28749$1,010−39.2%
28752$1,010−39.2%
28761$1,170−29.5%
28762Current$1,660—
28777$1,010−39.2%

Questions about ZIP 28762 rents

How much will Section 8 pay for a two-bedroom in ZIP 28762?

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 $1,660 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 28762 in?

ZIP 28762 is in the McDowell 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 28762 for FY 2027?

The two-bedroom FMR rose 16.1%, from $1,430 in FY 2026 to $1,660 in FY 2027. Since FY 2023 it has risen 8.5%.

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