FY2027 Small Area FMR · Mount Mourne, NC

ZIP 28123 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28123 (Mount Mourne, NC) is $1,430 a month, up 6.7% from FY2026. That is 0% equal to the Iredell County, NC area-wide FMR of $1,429.

2-bedroom SAFMR$1,430per month ▲ 6.7%

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

Rank in the area5thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,287

2 BR Small Area FMR$1,430

110% of SAFMR$1,573

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

Studio$1,260▲ 7.7%

1 BR$1,310▲ 7.4%

2 BR$1,430▲ 6.7%

3 BR$1,900▲ 5.0%

4 BR$2,390▲ 6.2%

FY2027 FY2026

Where 28123 sits in the Iredell County, NC area

Of the 20 ZIP codes HUD lists for the area, 28123 has the 5th 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 $1,430 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	$1,260	$1,134 – $1,386	$1,260	$1,170
1 bedroom	$1,310	$1,179 – $1,441	$1,313	$1,220
2 bedrooms	$1,430	$1,287 – $1,573	$1,429	$1,340
3 bedrooms	$1,900	$1,710 – $2,090	$1,897	$1,810
4 bedrooms	$2,390	$2,151 – $2,629	$2,389	$2,250

A household renting a two-bedroom home at the Small Area FMR of $1,430 needs about $57,200 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 28123 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
28117	Mooresville	3.3 mi	$2,140
28115	Mooresville	4.6 mi	$1,490
28036	Davidson	5.2 mi	$2,040
28031	Cornelius	5.7 mi	$2,000
28682	Terrell	7.3 mi	$1,720
28166	Troutman	9.5 mi	$1,530

Questions

What is the Fair Market Rent for ZIP code 28123?

HUD's FY2027 Small Area Fair Market Rents for 28123 are $1,260 (studio), $1,310 (1 BR), $1,430 (2 BR), $1,900 (3 BR) and $2,390 (4 BR) a month.

What is the Section 8 payment standard in 28123?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28123 that range is $1,287 to $1,573 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28123?

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.