FY2027 Small Area FMR · Locust, NC
ZIP 28097 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28097 (Locust, NC) is $1,020 a month, up 7.4% from FY2026. That is 43% below the Charlotte-Concord-Gastonia, NC-SC area-wide FMR of $1,785.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 28097 sits in the Charlotte-Concord-Gastonia, NC-SC area
Of the 129 ZIP codes HUD lists for the area, 28097 has the 126th highest two-bedroom Small Area FMR. Charlotte-Concord-Gastonia, NC-SC is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $918 and $1,122 for two bedrooms.
ZIP code 28097 crosses more than one HUD area. HUD also lists it under Stanly County, NC (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $780 | $702 – $858 | $1,574 | $800 |
| 1 bedroom | $790 | $711 – $869 | $1,640 | $810 |
| 2 bedrooms | $1,020 | $918 – $1,122 | $1,785 | $950 |
| 3 bedrooms | $1,380 | $1,242 – $1,518 | $2,179 | $1,290 |
| 4 bedrooms | $1,470 | $1,323 – $1,617 | $2,773 | $1,520 |
A household renting a two-bedroom home at the Small Area FMR of $1,020 needs about $40,800 a year to keep housing costs at 30% of income. The area median family income is $117,400 and the 80% low-income limit for four people is $93,900. ZIP code 28097 lies mainly in Stanly County and Cabarrus County. See the Charlotte-Concord-Gastonia, NC-SC metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 28097?
HUD's FY2027 Small Area Fair Market Rents for 28097 are $780 (studio), $790 (1 BR), $1,020 (2 BR), $1,380 (3 BR) and $1,470 (4 BR) a month.
What is the Section 8 payment standard in 28097?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28097 that range is $918 to $1,122 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 28097?
The FY2026 income limits of the Charlotte-Concord-Gastonia, NC-SC area apply: median family income $117,400, low-income (80%) limit $93,900 for a family of four.