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Buncombe County/Asheville/28801

28801

ZIPSAFMR
Buncombe County, NC
Zillow

ZIP Investment Score

52Below average

095130300
BRFMR
Eff. Rent
0 BR$1,560$1,180
1 BR$1,800$1,470
2 BR$1,960$2,020
3 BR$2,340$2,500
4 BR$3,270$3,060
5 BR$3,760Not available
6 BR$4,325Not available
7 BR$4,973Not available
8 BR$5,719Not available

Purchase Price Calculator

Maximum purchase price
$238,255

Cost breakdown

+Likely effective rent$2,020
HUD FMR$1,960
Market rent$2,050
Est. payment standard (103%)Used$2,020
-Principal and interest-$1,205
Loan amount$190,604
Down payment$47,651
Rate6.50%
Term30 years
-Operating costs-$615
Property taxes-$238
Insurance-$175
Utilities$0
HOA$0
Management-$202
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,348(67.9% ROI)
Projected value
$256,574
Return breakdown
Property appreciation+$18,320
Loan principal paid down+$6,829
Rental cash flow+$7,200
5-year hold
+$55,486(116.4% ROI)
Projected value
$269,563
Return breakdown
Property appreciation+$31,309
Loan principal paid down+$12,178
Rental cash flow+$12,000
10-year hold
+$119,749(251.3% ROI)
Projected value
$304,986
Return breakdown
Property appreciation+$66,731
Loan principal paid down+$29,017
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.32
1 BR
1.22
2 BR
0.96
3 BR
0.91
4 BR
1.07
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28801 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28801 (Asheville, NC) is $1,960 a month. That is down 1.0% from $1,980 in FY 2026. Asheville 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, 28801 has the 6th-highest two-bedroom rent (county range $1,660–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28801 is 71% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28801
BedroomsFY 2027Change90–110% range
Studio$1,560+0.6%$1,404–$1,716
1BR$1,800−0.6%$1,620–$1,980
2BR$1,960−1.0%$1,764–$2,156
3BR$2,340−2.9%$2,106–$2,574
4BR$3,270−1.5%$2,943–$3,597

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28801
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,560$1,800$1,960$2,340$3,270
FY 2026$1,550$1,810$1,980$2,410$3,320
FY 2025$1,500$1,570$1,760$2,260$2,980
FY 2024$1,660$1,740$1,950$2,510$3,310
FY 2023$1,610$1,650$1,860$2,470$3,170

Two-bedroom rent in nearby Buncombe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28801
28787$1,820−7.1%
28792$1,690−13.8%
28801Current$1,960—
28802$1,950−0.5%
28803$2,190+11.7%
28804$2,140+9.2%
28805$1,890−3.6%
28806$1,850−5.6%
28813$1,950−0.5%
28814$1,950−0.5%
28815$1,950−0.5%
28816$1,950−0.5%

Questions about ZIP 28801 rents

How much will Section 8 pay for a two-bedroom in ZIP 28801?

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 $1,960 it would be $1,764 to $2,156. 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 28801 in?

ZIP 28801 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 28801 for FY 2027?

The two-bedroom FMR fell 1.0%, from $1,980 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 5.4%.

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