Skip to main content
Loading page
Buncombe County/Asheville/28803

28803

ZIPSAFMR
Buncombe County, NC
Zillow

ZIP Investment Score

68Below average

095130300
BRFMR
Eff. Rent
0 BR$1,740$1,320
1 BR$2,010$1,390
2 BR$2,190$1,840
3 BR$2,660$2,290
4 BR$3,680$2,720
5 BR$4,232Not available
6 BR$4,867Not available
7 BR$5,597Not available
8 BR$6,436Not available

Purchase Price Calculator

Maximum purchase price
$211,507

Cost breakdown

+Likely effective rent$1,840
HUD FMR$2,190
Market rentUsed$1,840
Est. payment standard (90%)$1,970
-Principal and interest-$1,069
Loan amount$169,205
Down payment$42,301
Rate6.50%
Term30 years
-Operating costs-$571
Property taxes-$212
Insurance-$175
Utilities$0
HOA$0
Management-$184
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,525(69.8% ROI)
Projected value
$227,770
Return breakdown
Property appreciation+$16,263
Loan principal paid down+$6,062
Rental cash flow+$7,200
5-year hold
+$50,604(119.6% ROI)
Projected value
$239,300
Return breakdown
Property appreciation+$27,794
Loan principal paid down+$10,811
Rental cash flow+$12,000
10-year hold
+$108,999(257.7% ROI)
Projected value
$270,747
Return breakdown
Property appreciation+$59,240
Loan principal paid down+$25,760
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.32
1 BR
1.45
2 BR
1.19
3 BR
1.16
4 BR
1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28803 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28803 (Asheville, NC) is $2,190 a month. That is down 9.9% from $2,430 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, 28803 has the 2nd-highest two-bedroom rent (county range $1,660–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28803 is 91% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28803
BedroomsFY 2027Change90–110% range
Studio$1,740−8.4%$1,566–$1,914
1BR$2,010−9.5%$1,809–$2,211
2BR$2,190−9.9%$1,971–$2,409
3BR$2,660−9.8%$2,394–$2,926
4BR$3,680−9.8%$3,312–$4,048

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28803
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,740$2,010$2,190$2,660$3,680
FY 2026$1,900$2,220$2,430$2,950$4,080
FY 2025$1,650$1,730$1,940$2,490$3,290
FY 2024$1,830$1,920$2,150$2,760$3,650
FY 2023$1,740$1,780$2,010$2,670$3,420

Two-bedroom rent in nearby Buncombe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28803
28787$1,820−16.9%
28792$1,690−22.8%
28801$1,960−10.5%
28802$1,950−11.0%
28803Current$2,190—
28804$2,140−2.3%
28805$1,890−13.7%
28806$1,850−15.5%
28813$1,950−11.0%
28814$1,950−11.0%
28815$1,950−11.0%
28816$1,950−11.0%

Questions about ZIP 28803 rents

How much will Section 8 pay for a two-bedroom in ZIP 28803?

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 $2,190 it would be $1,971 to $2,409. 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 28803 in?

ZIP 28803 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 28803 for FY 2027?

The two-bedroom FMR fell 9.9%, from $2,430 in FY 2026 to $2,190 in FY 2027. Since FY 2023 it has risen 9.0%.

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