FY2027 Small Area FMR · Arden, NC

ZIP 28704 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28704 (Arden, NC) is $2,070 a month, up 1.0% from FY2026. That is 11% above the Asheville, NC area-wide FMR of $1,866.

2-bedroom SAFMR$2,070per month ▲ 1.0%

Area-wide 2 BR FMR$1,866Asheville, NC

Rank in the area6thof 54 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,863

2 BR Small Area FMR$2,070

110% of SAFMR$2,277

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

Studio$1,640▲ 2.5%

1 BR$1,900▲ 1.6%

2 BR$2,070▲ 1.0%

3 BR$2,470▼ 0.8%

4 BR$3,450▲ 0.3%

FY2027 FY2026

Where 28704 sits in the Asheville, NC area

Of the 54 ZIP codes HUD lists for the area, 28704 has the 6th highest two-bedroom Small Area FMR. Asheville, 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 $1,866 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,070 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	$1,640	$1,476 – $1,804	$1,482	$1,600
1 bedroom	$1,900	$1,710 – $2,090	$1,714	$1,870
2 bedrooms	$2,070	$1,863 – $2,277	$1,866	$2,050
3 bedrooms	$2,470	$2,223 – $2,717	$2,223	$2,490
4 bedrooms	$3,450	$3,105 – $3,795	$3,109	$3,440

A household renting a two-bedroom home at the Small Area FMR of $2,070 needs about $82,800 a year to keep housing costs at 30% of income. The area median family income is $103,200 and the 80% low-income limit for four people is $81,900. ZIP code 28704 lies mainly in Buncombe County and Henderson County. See the Asheville, NC metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28759	Mills River	5.3 mi	$2,270
28803	Asheville	6.0 mi	$2,190
28742	Horse Shoe	6.2 mi	$2,000
28732	Fletcher	7.7 mi	$1,870
28758	Mountain Home	7.8 mi	$1,700
28806	Asheville	8.1 mi	$1,850

Questions

What is the Fair Market Rent for ZIP code 28704?

HUD's FY2027 Small Area Fair Market Rents for 28704 are $1,640 (studio), $1,900 (1 BR), $2,070 (2 BR), $2,470 (3 BR) and $3,450 (4 BR) a month.

What is the Section 8 payment standard in 28704?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28704 that range is $1,863 to $2,277 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28704?

The FY2026 income limits of the Asheville, NC area apply: median family income $103,200, low-income (80%) limit $81,900 for a family of four.