FY2027 Small Area FMR · Cove City, NC

ZIP 28523 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28523 (Cove City, NC) is $1,080 a month, down 9.2% from FY2026. That is 13% below the Craven County, NC area-wide FMR of $1,246.

2-bedroom SAFMR$1,080per month ▼ 9.2%

Area-wide 2 BR FMR$1,246Craven County, NC

Rank in the area9thof 15 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$972

2 BR Small Area FMR$1,080

110% of SAFMR$1,188

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

Studio$810▼ 10.0%

1 BR$820▼ 9.9%

2 BR$1,080▼ 9.2%

3 BR$1,440▼ 10.0%

4 BR$1,800▼ 9.5%

FY2027 FY2026

Where 28523 sits in the Craven County, NC area

Of the 15 ZIP codes HUD lists for the area, 28523 has the 9th highest two-bedroom Small Area FMR. Craven 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 $1,246 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,080 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	$810	$729 – $891	$946	$900
1 bedroom	$820	$738 – $902	$952	$910
2 bedrooms	$1,080	$972 – $1,188	$1,246	$1,190
3 bedrooms	$1,440	$1,296 – $1,584	$1,644	$1,600
4 bedrooms	$1,800	$1,620 – $1,980	$1,985	$1,990

A household renting a two-bedroom home at the Small Area FMR of $1,080 needs about $43,200 a year to keep housing costs at 30% of income. The area median family income is $87,000 and the 80% low-income limit for four people is $69,600. ZIP code 28523 lies mainly in Craven County. See the Craven County, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28526	Dover	6.0 mi	$1,080
28586	Vanceboro	9.7 mi	$1,080
28585	Trenton	11.8 mi	$1,060
28562	New Bern	12.7 mi	$1,260
28501	Kinston	13.1 mi	$1,080
28530	Grifton	13.4 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 28523?

HUD's FY2027 Small Area Fair Market Rents for 28523 are $810 (studio), $820 (1 BR), $1,080 (2 BR), $1,440 (3 BR) and $1,800 (4 BR) a month.

What is the Section 8 payment standard in 28523?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28523 that range is $972 to $1,188 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28523?

The FY2026 income limits of the Craven County, NC area apply: median family income $87,000, low-income (80%) limit $69,600 for a family of four.