HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Watauga County, North Carolina (FY 2026)
A two-bedroom in Watauga County carries a FY 2026 Fair Market Rent of $1,177 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Watauga keys off that figure.
2 bedroom FMR
$1,177
FY 2026, utilities included
Payment standard range
$1,059 to $1,295
90% to 110% of FMR
Income to afford 2BR
$47,080
per year, at 30% of income
Rank in North Carolina
38th of 100
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Watauga moves to $1,311. That's up 11%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Watauga actually rent for?
Search any address in Watauga for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $822 | $740 to $904 | $32,880 | $15.81/hr | -5.9% |
| 1 bedroom | $988 | $889 to $1,087 | $39,520 | $19.00/hr | -1.6% |
| 2 bedroom | $1,177 | $1,059 to $1,295 | $47,080 | $22.63/hr | -7.6% |
| 3 bedroom | $1,504 | $1,354 to $1,654 | $60,160 | $28.92/hr | -3.3% |
| 4 bedroom | $1,974 | $1,777 to $2,171 | $78,960 | $37.96/hr | -7.7% |
5 to 8 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 | $2,270 | $2,043 to $2,497 |
| 6 bedroom Estimate | $2,566 | $2,309 to $2,823 |
| 7 bedroom Estimate | $2,862 | $2,576 to $3,148 |
| 8 bedroom Estimate | $3,158 | $2,842 to $3,474 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
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 2026 that's October 1, 2025 through September 30, 2026. In Watauga, that runs from $822 for a studio up to $1,974 for four bedrooms, all five rates in the table above.
Because Watauga 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, Boone included.
Among North Carolina's 100 counties, Watauga ranks 38th for two-bedroom FMR. That's about 8% above the state median of $1,086 and about 16% above the national median county at $1,018. About 54,540 people live here, 49th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,150 in 28618 (Deep Gap) and $1,290 in 28607 (Boone), with the 6 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.
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 Watauga somewhere between $1,059 and $1,295. 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.
$1,177 a month is affordable, by HUD's 30% rule, on an income of roughly $47,080 a year. Put another way, $23 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,059) | HAP at 100% ($1,177) | HAP at 110% ($1,295) |
|---|---|---|---|---|
| $2,500 | $750 | $309 | $427 | $545 |
| $4,000 | $1,200 | $0 | $0 | $95 |
Rate history
The two-bedroom rate went down 8% from FY 2025 ($1,274) to FY 2026 ($1,177). Since FY 2020 it's up 36% in total, about 5.3% a year. The North Carolina median moved up 4% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $591 | $677 | $865 | $1,141 | $1,174 | — |
| FY 2021 | $609 | $660 | $826 | $1,084 | $1,120 | -4.5% |
| FY 2022 | $665 | $741 | $913 | $1,180 | $1,441 | +10.5% |
| FY 2023 | $720 | $845 | $1,040 | $1,320 | $1,631 | +13.9% |
| FY 2024 | $777 | $906 | $1,140 | $1,392 | $1,935 | +9.6% |
| FY 2025 | $874 | $1,004 | $1,274 | $1,555 | $2,139 | +11.8% |
| FY 2026 | $822 | $988 | $1,177 | $1,504 | $1,974 | -7.6% |
| FY 2027 | $916 | $1,124 | $1,311 | $1,737 | $2,191 | +11.4% |
Nearby counties
Questions people ask
$1,177 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $822 for a studio, $988 for one bedroom, $1,504 for three and $1,974 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what income a household needs for a given rent.
What does a rental in Watauga actually go for?
HUD's number is one input. Search any address in Watauga for a rent estimate built from nearby comps. 3 free searches, no card.
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