FY2027 Small Area FMR · Terrell, NC

ZIP 28682 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28682 (Terrell, NC) is $1,720 a month, up 4.9% from FY2026. That is 50% above the Hickory-Lenoir-Morganton, NC area-wide FMR of $1,147.

2-bedroom SAFMR$1,720per month ▲ 4.9%

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

Rank in the area1stof 43 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,548

2 BR Small Area FMR$1,720

110% of SAFMR$1,892

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

Studio$1,440▲ 11.6%

1 BR$1,450▲ 6.6%

2 BR$1,720▲ 4.9%

3 BR$2,100▲ 2.4%

4 BR$2,560▲ 2.8%

FY2027 FY2026

Where 28682 sits in the Hickory-Lenoir-Morganton, NC area

Of the 43 ZIP codes HUD lists for the area, 28682 has the 1st 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 $1,720 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	$1,440	$1,296 – $1,584	$961	$1,290
1 bedroom	$1,450	$1,305 – $1,595	$965	$1,360
2 bedrooms	$1,720	$1,548 – $1,892	$1,147	$1,640
3 bedrooms	$2,100	$1,890 – $2,310	$1,399	$2,050
4 bedrooms	$2,560	$2,304 – $2,816	$1,707	$2,490

A household renting a two-bedroom home at the Small Area FMR of $1,720 needs about $68,800 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 28682 lies mainly in Catawba 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
28673	Sherrills Ford	2.8 mi	$1,620
28117	Mooresville	4.1 mi	$2,140
28037	Denver	7.1 mi	$1,320
28609	Catawba	7.7 mi	$1,520
28166	Troutman	8.3 mi	$1,530
28031	Cornelius	9.1 mi	$2,000

Questions

What is the Fair Market Rent for ZIP code 28682?

HUD's FY2027 Small Area Fair Market Rents for 28682 are $1,440 (studio), $1,450 (1 BR), $1,720 (2 BR), $2,100 (3 BR) and $2,560 (4 BR) a month.

What is the Section 8 payment standard in 28682?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28682 that range is $1,548 to $1,892 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28682?

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.