FY2027 Small Area FMR · Valdese, NC

ZIP 28690 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28690 (Valdese, NC) is $1,200 a month, up 10.1% from FY2026. That is 5% above the Hickory-Lenoir-Morganton, NC area-wide FMR of $1,147.

2-bedroom SAFMR$1,200per month ▲ 10.1%

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

Rank in the area14thof 43 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,080

2 BR Small Area FMR$1,200

110% of SAFMR$1,320

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

Studio$1,010▲ 18.8%

1 BR$1,010▲ 12.2%

2 BR$1,200▲ 10.1%

3 BR$1,460▲ 6.6%

4 BR$1,790▲ 8.5%

FY2027 FY2026

Where 28690 sits in the Hickory-Lenoir-Morganton, NC area

Of the 43 ZIP codes HUD lists for the area, 28690 has the 14th 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 $1,200 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	$1,010	$909 – $1,111	$961	$850
1 bedroom	$1,010	$909 – $1,111	$965	$900
2 bedrooms	$1,200	$1,080 – $1,320	$1,147	$1,090
3 bedrooms	$1,460	$1,314 – $1,606	$1,399	$1,370
4 bedrooms	$1,790	$1,611 – $1,969	$1,707	$1,650

A household renting a two-bedroom home at the Small Area FMR of $1,200 needs about $48,000 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 28690 lies mainly in 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
28619	Drexel	2.4 mi	$1,010
28671	Rutherford College	2.9 mi	$1,140
28666	Icard	5.8 mi	$1,160
28612	Connelly Springs	6.0 mi	$1,130
28667	Rhodhiss	8.6 mi	$1,080
28637	Hildebran	8.7 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 28690?

HUD's FY2027 Small Area Fair Market Rents for 28690 are $1,010 (studio), $1,010 (1 BR), $1,200 (2 BR), $1,460 (3 BR) and $1,790 (4 BR) a month.

What is the Section 8 payment standard in 28690?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28690 that range is $1,080 to $1,320 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28690?

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.