HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Cleveland County, North Carolina (FY 2027)
A two-bedroom in Cleveland County carries a FY 2027 Fair Market Rent of $1,014 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Cleveland keys off that figure.
Two-bedroom FMR
$1,014
+9.6% from FY 2026
Payment standard
$913–$1,115
90% to 110% of the FMR, two-bedroom
Income to afford
$40,560
a year, with rent at 30% of income
Rank in North Carolina
65th of 100
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $854 | $769–$939 | $34,160 | $16.42/hr | +12.7% |
| 1 bedroom | $859 | $773–$945 | $34,360 | $16.52/hr | +12.6% |
| 2 bedroom | $1,014 | $913–$1,115 | $40,560 | $19.50/hr | +9.6% |
| 3 bedroom | $1,404 | $1,264–$1,544 | $56,160 | $27.00/hr | +9.2% |
| 4 bedroom | $1,424 | $1,282–$1,566 | $56,960 | $27.38/hr | +7.7% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,638 | $1,474–$1,802 |
| 6 bedroom Estimate | $1,851 | $1,666–$2,036 |
| 7 bedroom Estimate | $2,065 | $1,859–$2,272 |
| 8 bedroom Estimate | $2,278 | $2,050–$2,506 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Cleveland actually rent for?
Search any address in Cleveland for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Cleveland somewhere between $913 and $1,115. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,014 a month is affordable, by HUD's 30% rule, on an income of roughly $40,560 a year. Put another way, $20 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$913 | Voucher pays at 100%$1,014 | Voucher pays at 110%$1,115 |
|---|---|---|---|---|
| $2,500 | $750 | $163 | $264 | $365 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 10% from FY 2026 ($925) to FY 2027 ($1,014). Since FY 2020 it's up 51% in total, about 6.0% a year. The North Carolina median moved up 5% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $496 | $559 | $673 | $876 | $1,106 | — |
| FY 2021 | $494 | $545 | $693 | $919 | $1,126 | +3.0% |
| FY 2022 | $504 | $550 | $724 | $976 | $1,160 | +4.5% |
| FY 2023 | $582 | $586 | $771 | $1,069 | $1,245 | +6.5% |
| FY 2024 | $652 | $656 | $856 | $1,206 | $1,349 | +11.0% |
| FY 2025 | $705 | $709 | $930 | $1,303 | $1,397 | +8.6% |
| FY 2026 | $758 | $763 | $925 | $1,286 | $1,322 | -0.5% |
| FY 2027In effect | $854 | $859 | $1,014 | $1,404 | $1,424 | +9.6% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Cleveland, that runs from $854 for a studio up to $1,424 for four bedrooms, all five rates in the table above.
Because Cleveland sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Shelby included.
Among North Carolina's 100 counties, Cleveland ranks 65th for two-bedroom FMR. That's about 11% below the state median of $1,145 and about 5% below the national median county at $1,063. About 100,991 people live here, 29th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,010 in 28020 (Casar) and $1,100 in 28169 (Waco), with the 14 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 28017 | Boiling Springs | $1,040 | +2.6% |
| 28020 | Casar | $1,010 | -0.4% |
| 28038 | Earl | $1,010 | -0.4% |
| 28042 | Fallston | $1,010 | -0.4% |
| 28073 | Grover | $1,040 | +2.6% |
| 28086 | Kings Mountain | $1,050 | +3.6% |
| 28089 | Lattimore | $1,040 | +2.6% |
| 28090 | Lawndale | $1,010 | -0.4% |
| 28114 | Mooresboro | $1,010 | -0.4% |
| 28136 | Polkville | $1,040 | +2.6% |
| 28150 | Shelby | $1,040 | +2.6% |
| 28151 | Shelby | $1,010 | -0.4% |
| 28152 | Shelby | $1,040 | +2.6% |
| 28169 | Waco | $1,100 | +8.5% |
Nearby counties
Two-bedroom FMR, with how each compares to Cleveland.
Rutherford County
20 mi · 64,930 people
$1,012
same rate
Lincoln County
22 mi · 92,716 people
$1,138
+12%
Gaston County
24 mi · 234,881 people
$1,785
+76%
Burke County
32 mi · 87,795 people
$1,147
+13%
Catawba County
32 mi · 163,573 people
$1,147
+13%
Polk County
38 mi · 19,891 people
$1,012
same rate
McDowell County
39 mi · 44,817 people
$1,012
same rate
Caldwell County
40 mi · 80,536 people
$1,147
+13%
Questions people ask
$1,014 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $854 for a studio, $859 for one bedroom, $1,404 for three and $1,424 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Cleveland actually go for?
HUD's number is one input. Search any address in Cleveland for a rent estimate built from nearby comps. Free to start, no card.
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