FY2027 Small Area FMR · Cedar Island, NC

ZIP 28520 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28520 (Cedar Island, NC) is $1,280 a month, up 13.3% from FY2026. That is 0% equal to the Carteret County, NC area-wide FMR of $1,277.

2-bedroom SAFMR$1,280per month ▲ 13.3%

Area-wide 2 BR FMR$1,277Carteret County, NC

Rank in the area6thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,152

2 BR Small Area FMR$1,280

110% of SAFMR$1,408

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

Studio$970▲ 12.8%

1 BR$980▲ 12.6%

2 BR$1,280▲ 13.3%

3 BR$1,610▲ 11.8%

4 BR$2,140▲ 16.9%

FY2027 FY2026

Where 28520 sits in the Carteret County, NC area

Of the 20 ZIP codes HUD lists for the area, 28520 has the 6th highest two-bedroom Small Area FMR. Carteret 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 $1,277 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,280 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	$970	$873 – $1,067	$970	$860
1 bedroom	$980	$882 – $1,078	$976	$870
2 bedrooms	$1,280	$1,152 – $1,408	$1,277	$1,130
3 bedrooms	$1,610	$1,449 – $1,771	$1,607	$1,440
4 bedrooms	$2,140	$1,926 – $2,354	$2,132	$1,830

A household renting a two-bedroom home at the Small Area FMR of $1,280 needs about $51,200 a year to keep housing costs at 30% of income. The area median family income is $103,500 and the 80% low-income limit for four people is $82,800. ZIP code 28520 lies mainly in Carteret County. See the Carteret County, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28511	Atlantic	6.6 mi	$1,240
28577	Sealevel	9.2 mi	$1,240
28581	Stacy	12.1 mi	$1,280
28516	Beaufort	14.4 mi	$1,090
28589	Williston	16.2 mi	$1,280
28524	Davis	16.3 mi	$1,280

Questions

What is the Fair Market Rent for ZIP code 28520?

HUD's FY2027 Small Area Fair Market Rents for 28520 are $970 (studio), $980 (1 BR), $1,280 (2 BR), $1,610 (3 BR) and $2,140 (4 BR) a month.

What is the Section 8 payment standard in 28520?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28520 that range is $1,152 to $1,408 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28520?

The FY2026 income limits of the Carteret County, NC area apply: median family income $103,500, low-income (80%) limit $82,800 for a family of four.