FY2027 Small Area FMR · Waco, NC

ZIP 28169 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28169 (Waco, NC) is $1,100 a month, up 18.3% from FY2026. That is 8% above the Cleveland County, NC area-wide FMR of $1,014.

2-bedroom SAFMR$1,100per month ▲ 18.3%

Area-wide 2 BR FMR$1,014Cleveland County, NC

Rank in the area3rdof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$990

2 BR Small Area FMR$1,100

110% of SAFMR$1,210

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

Studio$960▲ 26.3%

1 BR$990▲ 30.3%

2 BR$1,100▲ 18.3%

3 BR$1,430▲ 10.9%

4 BR$1,670▲ 26.5%

FY2027 FY2026

Where 28169 sits in the Cleveland County, NC area

Of the 18 ZIP codes HUD lists for the area, 28169 has the 3rd highest two-bedroom Small Area FMR. Cleveland 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,100 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	$960	$864 – $1,056	$854	$760
1 bedroom	$990	$891 – $1,089	$859	$760
2 bedrooms	$1,100	$990 – $1,210	$1,014	$930
3 bedrooms	$1,430	$1,287 – $1,573	$1,404	$1,290
4 bedrooms	$1,670	$1,503 – $1,837	$1,424	$1,320

A household renting a two-bedroom home at the Small Area FMR of $1,100 needs about $44,000 a year to keep housing costs at 30% of income. The area median family income is $82,800 and the 80% low-income limit for four people is $66,250. ZIP code 28169 lies mainly in Cleveland County. See the Cleveland County, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28021	Cherryville	3.3 mi	$1,120
28042	Fallston	6.3 mi	$1,010
28033	Crouse	7.1 mi	$1,060
28150	Shelby	8.3 mi	$1,040
28086	Kings Mountain	8.4 mi	$1,050
28016	Bessemer City	8.8 mi	$1,070

Questions

What is the Fair Market Rent for ZIP code 28169?

HUD's FY2027 Small Area Fair Market Rents for 28169 are $960 (studio), $990 (1 BR), $1,100 (2 BR), $1,430 (3 BR) and $1,670 (4 BR) a month.

What is the Section 8 payment standard in 28169?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28169 that range is $990 to $1,210 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28169?

The FY2026 income limits of the Cleveland County, NC area apply: median family income $82,800, low-income (80%) limit $66,250 for a family of four.