FY2027 Small Area FMR · Wilmington, NC

ZIP 28404 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28404 (Wilmington, NC) is $1,710 a month, up 3.0% from FY2026. That is 0% equal to the Wilmington, NC area-wide FMR of $1,705.

2-bedroom SAFMR$1,710per month ▲ 3.0%

Area-wide 2 BR FMR$1,705Wilmington, NC

Rank in the area8thof 15 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,539

2 BR Small Area FMR$1,710

110% of SAFMR$1,881

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

Studio$1,190▲ 4.4%

1 BR$1,570▲ 4.0%

2 BR$1,710▲ 3.0%

3 BR$2,250▲ 3.2%

4 BR$2,250▼ 3.0%

FY2027 FY2026

Where 28404 sits in the Wilmington, NC area

Of the 15 ZIP codes HUD lists for the area, 28404 has the 8th highest two-bedroom Small Area FMR. Wilmington, 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 $1,705 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,710 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	$1,190	$1,071 – $1,309	$1,187	$1,140
1 bedroom	$1,570	$1,413 – $1,727	$1,566	$1,510
2 bedrooms	$1,710	$1,539 – $1,881	$1,705	$1,660
3 bedrooms	$2,250	$2,025 – $2,475	$2,238	$2,180
4 bedrooms	$2,250	$2,025 – $2,475	$2,241	$2,320

A household renting a two-bedroom home at the Small Area FMR of $1,710 needs about $68,400 a year to keep housing costs at 30% of income. The area median family income is $109,200 and the 80% low-income limit for four people is $87,350. ZIP code 28404 lies mainly in Brunswick County. See the Wilmington, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28401	Wilmington	3.4 mi	$1,500
28403	Wilmington	3.7 mi	$1,690
28405	Wilmington	5.2 mi	$1,740
28412	Wilmington	6.3 mi	$1,780
28409	Wilmington	6.8 mi	$1,940
28429	Castle Hayne	8.4 mi	$1,500

Questions

What is the Fair Market Rent for ZIP code 28404?

HUD's FY2027 Small Area Fair Market Rents for 28404 are $1,190 (studio), $1,570 (1 BR), $1,710 (2 BR), $2,250 (3 BR) and $2,250 (4 BR) a month.

What is the Section 8 payment standard in 28404?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28404 that range is $1,539 to $1,881 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28404?

The FY2026 income limits of the Wilmington, NC area apply: median family income $109,200, low-income (80%) limit $87,350 for a family of four.