FY2027 Small Area FMR · Hickory, NC

ZIP 28602 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28602 (Hickory, NC) is $1,250 a month, up 9.6% from FY2026. That is 9% above the Hickory-Lenoir-Morganton, NC area-wide FMR of $1,147.

2-bedroom SAFMR$1,250per month ▲ 9.6%

Area-wide 2 BR FMR$1,147Hickory-Lenoir-Morganton, NC

Rank in the area10thof 43 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,125

2 BR Small Area FMR$1,250

110% of SAFMR$1,375

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

Studio$1,050▲ 18.0%

1 BR$1,050▲ 11.7%

2 BR$1,250▲ 9.6%

3 BR$1,520▲ 6.3%

4 BR$1,860▲ 7.5%

FY2027 FY2026

Where 28602 sits in the Hickory-Lenoir-Morganton, NC area

Of the 43 ZIP codes HUD lists for the area, 28602 has the 10th highest two-bedroom Small Area FMR. Hickory-Lenoir-Morganton, 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 $1,147 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,250 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	$1,050	$945 – $1,155	$961	$890
1 bedroom	$1,050	$945 – $1,155	$965	$940
2 bedrooms	$1,250	$1,125 – $1,375	$1,147	$1,140
3 bedrooms	$1,520	$1,368 – $1,672	$1,399	$1,430
4 bedrooms	$1,860	$1,674 – $2,046	$1,707	$1,730

A household renting a two-bedroom home at the Small Area FMR of $1,250 needs about $50,000 a year to keep housing costs at 30% of income. The area median family income is $85,200 and the 80% low-income limit for four people is $68,150. ZIP code 28602 lies mainly in Catawba County and Burke County. See the Hickory-Lenoir-Morganton, NC metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28637	Hildebran	3.7 mi	$1,010
28666	Icard	6.0 mi	$1,160
28667	Rhodhiss	7.2 mi	$1,080
28601	Hickory	7.9 mi	$1,320
28168	Vale	8.4 mi	$1,030
28612	Connelly Springs	8.4 mi	$1,130

Questions

What is the Fair Market Rent for ZIP code 28602?

HUD's FY2027 Small Area Fair Market Rents for 28602 are $1,050 (studio), $1,050 (1 BR), $1,250 (2 BR), $1,520 (3 BR) and $1,860 (4 BR) a month.

What is the Section 8 payment standard in 28602?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28602 that range is $1,125 to $1,375 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28602?

The FY2026 income limits of the Hickory-Lenoir-Morganton, NC area apply: median family income $85,200, low-income (80%) limit $68,150 for a family of four.