HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Pasquotank County, North Carolina (FY 2027)
$1,220 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Pasquotank County, and it's the baseline every voucher in Pasquotank is measured against.
Two-bedroom FMR
$1,220
+0.3% from FY 2026
Payment standard
$1,098–$1,342
90% to 110% of the FMR, two-bedroom
Income to afford
$48,800
a year, with rent at 30% of income
Rank in North Carolina
39th 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 | $957 | $861–$1,053 | $38,280 | $18.40/hr | +3.9% |
| 1 bedroom | $963 | $867–$1,059 | $38,520 | $18.52/hr | +3.9% |
| 2 bedroom | $1,220 | $1,098–$1,342 | $48,800 | $23.46/hr | +0.3% |
| 3 bedroom | $1,689 | $1,520–$1,858 | $67,560 | $32.48/hr | +3.0% |
| 4 bedroom | $1,988 | $1,789–$2,187 | $79,520 | $38.23/hr | +4.7% |
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 | $2,286 | $2,057–$2,515 |
| 6 bedroom Estimate | $2,584 | $2,326–$2,842 |
| 7 bedroom Estimate | $2,883 | $2,595–$3,171 |
| 8 bedroom Estimate | $3,181 | $2,863–$3,499 |
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 Pasquotank actually rent for?
Search any address in Pasquotank 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 Pasquotank somewhere between $1,098 and $1,342. 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.
$1,220 a month is affordable, by HUD's 30% rule, on an income of roughly $48,800 a year. Put another way, $23 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%$1,098 | Voucher pays at 100%$1,220 | Voucher pays at 110%$1,342 |
|---|---|---|---|---|
| $2,500 | $750 | $348 | $470 | $592 |
| $4,000 | $1,200 | $0 | $20 | $142 |
Rate history
The two-bedroom rate went up 0% from FY 2026 ($1,216) to FY 2027 ($1,220). Since FY 2020 it's up 55% in total, about 6.4% 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 | $585 | $598 | $788 | $1,137 | $1,237 | — |
| FY 2021 | $576 | $625 | $824 | $1,179 | $1,290 | +4.6% |
| FY 2022 | $581 | $665 | $875 | $1,234 | $1,384 | +6.2% |
| FY 2023 | $626 | $711 | $936 | $1,311 | $1,528 | +7.0% |
| FY 2024 | $717 | $805 | $1,058 | $1,454 | $1,749 | +13.0% |
| FY 2025 | $903 | $909 | $1,192 | $1,599 | $1,915 | +12.7% |
| FY 2026 | $921 | $927 | $1,216 | $1,640 | $1,899 | +2.0% |
| FY 2027In effect | $957 | $963 | $1,220 | $1,689 | $1,988 | +0.3% |
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 Pasquotank, that runs from $957 for a studio up to $1,988 for four bedrooms, all five rates in the table above.
Because Pasquotank 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, Elizabeth City included.
Among North Carolina's 100 counties, Pasquotank ranks 39th for two-bedroom FMR. That's about 7% above the state median of $1,145 and about 15% above the national median county at $1,063. About 40,834 people live here, 62nd in the state.
Rates by ZIP code
HUD also publishes Small Area FMRs by ZIP code. For the 3 ZIP codes it covers in Pasquotank, the two-bedroom rate is $1,220 across the board, so there's no ZIP-level story here.
Nearby counties
Two-bedroom FMR, with how each compares to Pasquotank.
Camden County
6 mi · 10,927 people
$1,364
+12%
Perquimans County
13 mi · 13,244 people
$1,040
-15%
Currituck County
17 mi · 30,601 people
$1,667
+37%
Chowan County
23 mi · 13,836 people
$1,331
+9%
Tyrrell County
26 mi · 3,423 people
$1,012
-17%
Gates County
28 mi · 10,376 people
$1,665
+36%
Washington County
34 mi · 10,812 people
$1,012
-17%
Hertford County
40 mi · 19,908 people
$1,012
-17%
Questions people ask
$1,220 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $957 for a studio, $963 for one bedroom, $1,689 for three and $1,988 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 Pasquotank actually go for?
HUD's number is one input. Search any address in Pasquotank for a rent estimate built from nearby comps. Free to start, no card.
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