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Buncombe County/Asheville/28805

28805

ZIPSAFMR
Buncombe County, NC
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,500$1,300
1 BR$1,740$1,350
2 BR$1,890$1,950
3 BR$2,250$2,350
4 BR$3,150$3,130
5 BR$3,622Not available
6 BR$4,166Not available
7 BR$4,791Not available
8 BR$5,509Not available

Purchase Price Calculator

Maximum purchase price
$227,853

Cost breakdown

+Likely effective rent$1,950
HUD FMR$1,890
Market rent$1,980
Est. payment standard (103%)Used$1,950
-Principal and interest-$1,152
Loan amount$182,282
Down payment$45,571
Rate6.50%
Term30 years
-Operating costs-$598
Property taxes-$228
Insurance-$175
Utilities$0
HOA$0
Management-$195
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,250(68.6% ROI)
Projected value
$245,372
Return breakdown
Property appreciation+$17,520
Loan principal paid down+$6,531
Rental cash flow+$7,200
5-year hold
+$53,588(117.6% ROI)
Projected value
$257,794
Return breakdown
Property appreciation+$29,942
Loan principal paid down+$11,646
Rental cash flow+$12,000
10-year hold
+$115,568(253.6% ROI)
Projected value
$291,671
Return breakdown
Property appreciation+$63,818
Loan principal paid down+$27,750
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.29
2 BR
0.95
3 BR
0.93
4 BR
1.01
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 28805 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28805 (Asheville, NC) is $1,890 a month. That is up 2.2% from $1,850 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, 28805 has the 14th-highest two-bedroom rent (county range $1,660–$2,270). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28805 is 65% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28805
BedroomsFY 2027Change90–110% range
Studio$1,500+3.4%$1,350–$1,650
1BR$1,740+3.0%$1,566–$1,914
2BR$1,890+2.2%$1,701–$2,079
3BR$2,2500.0%$2,025–$2,475
4BR$3,150+1.6%$2,835–$3,465

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28805
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,500$1,740$1,890$2,250$3,150
FY 2026$1,450$1,690$1,850$2,250$3,100
FY 2025$1,290$1,360$1,520$1,950$2,570
FY 2024$1,410$1,480$1,660$2,130$2,820
FY 2023$1,250$1,270$1,440$1,910$2,450

Two-bedroom rent in nearby Buncombe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28805
28787$1,820−3.7%
28792$1,690−10.6%
28801$1,960+3.7%
28802$1,950+3.2%
28803$2,190+15.9%
28804$2,140+13.2%
28805Current$1,890—
28806$1,850−2.1%
28813$1,950+3.2%
28814$1,950+3.2%
28815$1,950+3.2%
28816$1,950+3.2%

Questions about ZIP 28805 rents

How much will Section 8 pay for a two-bedroom in ZIP 28805?

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 $1,890 it would be $1,701 to $2,079. 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 28805 in?

ZIP 28805 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 28805 for FY 2027?

The two-bedroom FMR rose 2.2%, from $1,850 in FY 2026 to $1,890 in FY 2027. Since FY 2023 it has risen 31.3%.

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