HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in New Hanover County, North Carolina (FY 2027)
A two-bedroom in New Hanover County carries a FY 2027 Fair Market Rent of $1,705 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in New Hanover keys off that figure.
Two-bedroom FMR
$1,705
+2.8% from FY 2026
Payment standard
$1,535–$1,876
90% to 110% of the FMR, two-bedroom
Income to afford
$68,200
a year, with rent at 30% of income
Rank in North Carolina
11th 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 | $1,187 | $1,068–$1,306 | $47,480 | $22.83/hr | +3.8% |
| 1 bedroom | $1,566 | $1,409–$1,723 | $62,640 | $30.12/hr | +3.5% |
| 2 bedroom | $1,705 | $1,535–$1,876 | $68,200 | $32.79/hr | +2.8% |
| 3 bedroom | $2,238 | $2,014–$2,462 | $89,520 | $43.04/hr | +2.8% |
| 4 bedroom | $2,241 | $2,017–$2,465 | $89,640 | $43.10/hr | -3.4% |
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 | $2,577 | $2,319–$2,835 |
| 6 bedroom Estimate | $2,913 | $2,622–$3,204 |
| 7 bedroom Estimate | $3,249 | $2,924–$3,574 |
| 8 bedroom Estimate | $3,586 | $3,227–$3,945 |
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 New Hanover actually rent for?
Search any address in New Hanover 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 New Hanover somewhere between $1,535 and $1,876. 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.
$1,705 a month is affordable, by HUD's 30% rule, on an income of roughly $68,200 a year. Put another way, $33 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%$1,535 | Voucher pays at 100%$1,705 | Voucher pays at 110%$1,876 |
|---|---|---|---|---|
| $2,500 | $750 | $785 | $955 | $1,126 |
| $4,000 | $1,200 | $335 | $505 | $676 |
Rate history
The two-bedroom rate went up 3% from FY 2026 ($1,659) to FY 2027 ($1,705). Since FY 2020 it's up 77% in total, about 8.5% 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 | $675 | $776 | $966 | $1,330 | $1,630 | — |
| FY 2021 | $754 | $873 | $1,069 | $1,449 | $1,841 | +10.7% |
| FY 2022 | $814 | $988 | $1,164 | $1,545 | $1,992 | +8.9% |
| FY 2023 | $853 | $1,108 | $1,259 | $1,669 | $2,145 | +8.2% |
| FY 2024 | $1,027 | $1,349 | $1,515 | $2,002 | $2,561 | +20.3% |
| FY 2025 | $1,083 | $1,427 | $1,580 | $2,087 | $2,485 | +4.3% |
| FY 2026 | $1,144 | $1,513 | $1,659 | $2,178 | $2,319 | +5.0% |
| FY 2027In effect | $1,187 | $1,566 | $1,705 | $2,238 | $2,241 | +2.8% |
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 New Hanover, that runs from $1,187 for a studio up to $2,241 for four bedrooms, all five rates in the table above.
New Hanover is its own HUD metro area (Wilmington, NC), so the rate here is set from rents inside the county rather than a wider region.
Among North Carolina's 100 counties, New Hanover ranks 11th for two-bedroom FMR. That's about 49% above the state median of $1,145 and about 60% above the national median county at $1,063. About 235,229 people live here, 10th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,500 in 28401 (Wilmington) and $2,560 in 28480 (Wrightsville Beach), 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 |
|---|---|---|---|
| 28401 | Wilmington | $1,500 | -12.0% |
| 28402 | Wilmington | $1,710 | +0.3% |
| 28403 | Wilmington | $1,690 | -0.9% |
| 28405 | Wilmington | $1,740 | +2.1% |
| 28406 | Wilmington | $1,710 | +0.3% |
| 28407 | Wilmington | $1,705County rate | — |
| 28408 | Wilmington | $1,710 | +0.3% |
| 28409 | Wilmington | $1,940 | +13.8% |
| 28410 | Wilmington | $1,710 | +0.3% |
| 28411 | Wilmington | $2,100 | +23.2% |
| 28412 | Wilmington | $1,780 | +4.4% |
| 28428 | Carolina Beach | $1,840 | +7.9% |
| 28429 | Castle Hayne | $1,500 | -12.0% |
| 28449 | Kure Beach | $1,750 | +2.6% |
| 28480 | Wrightsville Beach | $2,560 | +50.1% |
Nearby counties
Two-bedroom FMR, with how each compares to New Hanover.
Pender County
24 mi · 65,550 people
$1,199
-30%
Brunswick County
26 mi · 152,568 people
$1,574
-8%
Columbus County
45 mi · 50,140 people
$1,012
-41%
Onslow County
45 mi · 207,906 people
$1,319
-23%
Bladen County
51 mi · 29,566 people
$1,012
-41%
Duplin County
53 mi · 49,335 people
$1,025
-40%
Sampson County
59 mi · 59,470 people
$1,012
-41%
Jones County
63 mi · 9,302 people
$1,012
-41%
Questions people ask
$1,705 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,187 for a studio, $1,566 for one bedroom, $2,238 for three and $2,241 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 New Hanover actually go for?
HUD's number is one input. Search any address in New Hanover for a rent estimate built from nearby comps. Free to start, no card.
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