HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Transylvania County, North Carolina (FY 2027)
$1,386 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Transylvania County, and it's the baseline every voucher in Transylvania is measured against.
Two-bedroom FMR
$1,386
+19.1% from FY 2026
Payment standard
$1,247–$1,525
90% to 110% of the FMR, two-bedroom
Income to afford
$55,440
a year, with rent at 30% of income
Rank in North Carolina
21st 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 | $1,111 | $1,000–$1,222 | $44,440 | $21.37/hr | +26.1% |
| 1 bedroom | $1,118 | $1,006–$1,230 | $44,720 | $21.50/hr | +26.0% |
| 2 bedroom | $1,386 | $1,247–$1,525 | $55,440 | $26.65/hr | +19.1% |
| 3 bedroom | $1,781 | $1,603–$1,959 | $71,240 | $34.25/hr | +27.6% |
| 4 bedroom | $2,097 | $1,887–$2,307 | $83,880 | $40.33/hr | +19.9% |
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 | $2,412 | $2,171–$2,653 |
| 6 bedroom Estimate | $2,726 | $2,453–$2,999 |
| 7 bedroom Estimate | $3,041 | $2,737–$3,345 |
| 8 bedroom Estimate | $3,355 | $3,020–$3,691 |
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 Transylvania actually rent for?
Search any address in Transylvania 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 Transylvania somewhere between $1,247 and $1,525. 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.
$1,386 a month is affordable, by HUD's 30% rule, on an income of roughly $55,440 a year. Put another way, $27 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%$1,247 | Voucher pays at 100%$1,386 | Voucher pays at 110%$1,525 |
|---|---|---|---|---|
| $2,500 | $750 | $497 | $636 | $775 |
| $4,000 | $1,200 | $47 | $186 | $325 |
Rate history
The two-bedroom rate went up 19% from FY 2026 ($1,164) to FY 2027 ($1,386). Since FY 2020 it's up 104% in total, about 10.7% 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 | $567 | $570 | $681 | $867 | $976 | — |
| FY 2021 | $532 | $536 | $706 | $897 | $1,054 | +3.7% |
| FY 2022 | $706 | $711 | $935 | $1,156 | $1,364 | +32.4% |
| FY 2023 | $751 | $756 | $995 | $1,211 | $1,530 | +6.4% |
| FY 2024 | $853 | $858 | $1,128 | $1,364 | $1,738 | +13.4% |
| FY 2025 | $871 | $877 | $1,150 | $1,386 | $1,729 | +2.0% |
| FY 2026 | $881 | $887 | $1,164 | $1,396 | $1,749 | +1.2% |
| FY 2027In effect | $1,111 | $1,118 | $1,386 | $1,781 | $2,097 | +19.1% |
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 Transylvania, that runs from $1,111 for a studio up to $2,097 for four bedrooms, all five rates in the table above.
Because Transylvania 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, Balsam Grove included.
Among North Carolina's 100 counties, Transylvania ranks 21st for two-bedroom FMR. That's about 21% above the state median of $1,145 and about 30% above the national median county at $1,063. About 33,691 people live here, 68th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,230 in 28708 (Balsam Grove) and $1,830 in 28774 (Sapphire), with the 8 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.
Nearby counties
Two-bedroom FMR, with how each compares to Transylvania.
Henderson County
22 mi · 118,484 people
$1,866
+35%
Jackson County
23 mi · 43,771 people
$1,039
-25%
Haywood County
25 mi · 62,662 people
$1,250
-10%
Buncombe County
32 mi · 274,360 people
$1,866
+35%
Macon County
32 mi · 37,941 people
$1,015
-27%
Polk County
32 mi · 19,891 people
$1,012
-27%
Swain County
41 mi · 14,013 people
$1,012
-27%
Madison County
45 mi · 21,867 people
$1,866
+35%
Questions people ask
$1,386 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,111 for a studio, $1,118 for one bedroom, $1,781 for three and $2,097 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 Transylvania actually go for?
HUD's number is one input. Search any address in Transylvania for a rent estimate built from nearby comps. Free to start, no card.
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