FY2027 Small Area FMR · Mooresville, NC

ZIP 28117 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28117 (Mooresville, NC) is $2,140 a month, up 6.5% from FY2026. That is 50% above the Iredell County, NC area-wide FMR of $1,429.

2-bedroom SAFMR$2,140per month ▲ 6.5%

Area-wide 2 BR FMR$1,429Iredell County, NC

Rank in the area1stof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,926

2 BR Small Area FMR$2,140

110% of SAFMR$2,354

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,890▲ 8.0%

1 BR$1,970▲ 7.7%

2 BR$2,140▲ 6.5%

3 BR$2,840▲ 4.8%

4 BR$3,580▲ 6.2%

FY2027 FY2026

Where 28117 sits in the Iredell County, NC area

Of the 20 ZIP codes HUD lists for the area, 28117 has the 1st highest two-bedroom Small Area FMR. Iredell County, NC is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,429 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,140 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,890	$1,701 – $2,079	$1,260	$1,750
1 bedroom	$1,970	$1,773 – $2,167	$1,313	$1,830
2 bedrooms	$2,140	$1,926 – $2,354	$1,429	$2,010
3 bedrooms	$2,840	$2,556 – $3,124	$1,897	$2,710
4 bedrooms	$3,580	$3,222 – $3,938	$2,389	$3,370

A household renting a two-bedroom home at the Small Area FMR of $2,140 needs about $85,600 a year to keep housing costs at 30% of income. The area median family income is $107,300 and the 80% low-income limit for four people is $85,850. ZIP code 28117 lies mainly in Iredell County. See the Iredell County, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28682	Terrell	4.1 mi	$1,720
28031	Cornelius	6.6 mi	$2,000
28673	Sherrills Ford	6.7 mi	$1,620
28115	Mooresville	7.0 mi	$1,490
28166	Troutman	8.1 mi	$1,530
28036	Davidson	8.3 mi	$2,040

Questions

What is the Fair Market Rent for ZIP code 28117?

HUD's FY2027 Small Area Fair Market Rents for 28117 are $1,890 (studio), $1,970 (1 BR), $2,140 (2 BR), $2,840 (3 BR) and $3,580 (4 BR) a month.

What is the Section 8 payment standard in 28117?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28117 that range is $1,926 to $2,354 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28117?

The FY2026 income limits of the Iredell County, NC area apply: median family income $107,300, low-income (80%) limit $85,850 for a family of four.