FY2027 Small Area FMR · Spencer, NC
ZIP 28159 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28159 (Spencer, NC) is $1,290 a month, unchanged from FY2026. That is 2% above the Rowan County, NC area-wide FMR of $1,262.
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 28159 sits in the Rowan County, NC area
Of the 22 ZIP codes HUD lists for the area, 28159 has the 10th highest two-bedroom Small Area FMR. Rowan 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 $1,262 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,290 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,010 | $909 – $1,111 | $992 | $1,040 |
| 1 bedroom | $1,030 | $927 – $1,133 | $1,012 | $1,050 |
| 2 bedrooms | $1,290 | $1,161 – $1,419 | $1,262 | $1,290 |
| 3 bedrooms | $1,640 | $1,476 – $1,804 | $1,604 | $1,700 |
| 4 bedrooms | $2,160 | $1,944 – $2,376 | $2,109 | $2,160 |
A household renting a two-bedroom home at the Small Area FMR of $1,290 needs about $51,600 a year to keep housing costs at 30% of income. The area median family income is $79,000 and the 80% low-income limit for four people is $66,700. ZIP code 28159 lies mainly in Rowan County. See the Rowan County, NC county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 28159?
HUD's FY2027 Small Area Fair Market Rents for 28159 are $1,010 (studio), $1,030 (1 BR), $1,290 (2 BR), $1,640 (3 BR) and $2,160 (4 BR) a month.
What is the Section 8 payment standard in 28159?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28159 that range is $1,161 to $1,419 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 28159?
The FY2026 income limits of the Rowan County, NC area apply: median family income $79,000, low-income (80%) limit $66,700 for a family of four.