HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Craven County, North Carolina (FY 2027)
$1,246 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Craven County, and it's the baseline every voucher in Craven is measured against.
Two-bedroom FMR
$1,246
+5.2% from FY 2026
Payment standard
$1,121–$1,371
90% to 110% of the FMR, two-bedroom
Income to afford
$49,840
a year, with rent at 30% of income
Rank in North Carolina
37th 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 | $946 | $851–$1,041 | $37,840 | $18.19/hr | +5.5% |
| 1 bedroom | $952 | $857–$1,047 | $38,080 | $18.31/hr | +5.5% |
| 2 bedroom | $1,246 | $1,121–$1,371 | $49,840 | $23.96/hr | +5.2% |
| 3 bedroom | $1,644 | $1,480–$1,808 | $65,760 | $31.62/hr | +3.3% |
| 4 bedroom | $1,985 | $1,787–$2,184 | $79,400 | $38.17/hr | -0.2% |
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 | $2,283 | $2,055–$2,511 |
| 6 bedroom Estimate | $2,581 | $2,323–$2,839 |
| 7 bedroom Estimate | $2,878 | $2,590–$3,166 |
| 8 bedroom Estimate | $3,176 | $2,858–$3,494 |
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 Craven actually rent for?
Search any address in Craven 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 Craven somewhere between $1,121 and $1,371. 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.
$1,246 a month is affordable, by HUD's 30% rule, on an income of roughly $49,840 a year. Put another way, $24 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%$1,121 | Voucher pays at 100%$1,246 | Voucher pays at 110%$1,371 |
|---|---|---|---|---|
| $2,500 | $750 | $371 | $496 | $621 |
| $4,000 | $1,200 | $0 | $46 | $171 |
Rate history
The two-bedroom rate went up 5% from FY 2026 ($1,184) to FY 2027 ($1,246). Since FY 2020 it's up 34% in total, about 4.3% 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 | $702 | $719 | $929 | $1,270 | $1,621 | — |
| FY 2021 | $728 | $750 | $947 | $1,284 | $1,640 | +1.9% |
| FY 2022 | $764 | $771 | $984 | $1,319 | $1,684 | +3.9% |
| FY 2023 | $829 | $834 | $1,092 | $1,465 | $1,860 | +11.0% |
| FY 2024 | $928 | $935 | $1,228 | $1,660 | $2,084 | +12.5% |
| FY 2025 | $996 | $1,002 | $1,315 | $1,767 | $2,208 | +7.1% |
| FY 2026 | $897 | $902 | $1,184 | $1,591 | $1,988 | -10.0% |
| FY 2027In effect | $946 | $952 | $1,246 | $1,644 | $1,985 | +5.2% |
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 Craven, that runs from $946 for a studio up to $1,985 for four bedrooms, all five rates in the table above.
Because Craven 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, New Bern included.
Among North Carolina's 100 counties, Craven ranks 37th for two-bedroom FMR. That's about 9% above the state median of $1,145 and about 17% above the national median county at $1,063. About 102,612 people live here, 28th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,080 in 28523 (Cove City) and $1,410 in 28532 (Havelock), with the 12 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 |
|---|---|---|---|
| 28519 | Bridgeton | $1,170 | -6.1% |
| 28523 | Cove City | $1,080 | -13.3% |
| 28526 | Dover | $1,080 | -13.3% |
| 28527 | Ernul | $1,080 | -13.3% |
| 28532 | Havelock | $1,410 | +13.2% |
| 28533 | Cherry Point | $1,410 | +13.2% |
| 28560 | New Bern | $1,170 | -6.1% |
| 28561 | New Bern | $1,250 | +0.3% |
| 28562 | New Bern | $1,260 | +1.1% |
| 28563 | New Bern | $1,250 | +0.3% |
| 28564 | New Bern | $1,250 | +0.3% |
| 28586 | Vanceboro | $1,080 | -13.3% |
Nearby counties
Two-bedroom FMR, with how each compares to Craven.
Jones County
18 mi · 9,302 people
$1,012
-19%
Pamlico County
21 mi · 12,390 people
$1,088
-13%
Beaufort County
27 mi · 44,499 people
$1,012
-19%
Lenoir County
33 mi · 54,919 people
$1,012
-19%
Onslow County
34 mi · 207,906 people
$1,319
+6%
Carteret County
35 mi · 69,148 people
$1,277
+2%
Pitt County
37 mi · 177,193 people
$1,167
-6%
Greene County
40 mi · 20,486 people
$1,012
-19%
Questions people ask
$1,246 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $946 for a studio, $952 for one bedroom, $1,644 for three and $1,985 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 Craven actually go for?
HUD's number is one input. Search any address in Craven for a rent estimate built from nearby comps. Free to start, no card.
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