FY2027 Small Area FMR · Chimney Rock, NC
ZIP 28720 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28720 (Chimney Rock, NC) is $1,520 a month, up 9.4% from FY2026. That is 50% above the Rutherford County, NC area-wide FMR of $1,012.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 28720 sits in the Rutherford County, NC area
Of the 18 ZIP codes HUD lists for the area, 28720 has the 4th highest two-bedroom Small Area FMR. Rutherford 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 $1,012 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,520 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,290 | $1,161 – $1,419 | $861 | $1,200 |
| 1 bedroom | $1,300 | $1,170 – $1,430 | $866 | $1,210 |
| 2 bedrooms | $1,520 | $1,368 – $1,672 | $1,012 | $1,390 |
| 3 bedrooms | $2,030 | $1,827 – $2,233 | $1,354 | $1,920 |
| 4 bedrooms | $2,060 | $1,854 – $2,266 | $1,374 | $2,000 |
A household renting a two-bedroom home at the Small Area FMR of $1,520 needs about $60,800 a year to keep housing costs at 30% of income. The area median family income is $77,200 and the 80% low-income limit for four people is $62,650. ZIP code 28720 lies mainly in Rutherford County. See the Rutherford County, NC county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 28720?
HUD's FY2027 Small Area Fair Market Rents for 28720 are $1,290 (studio), $1,300 (1 BR), $1,520 (2 BR), $2,030 (3 BR) and $2,060 (4 BR) a month.
What is the Section 8 payment standard in 28720?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28720 that range is $1,368 to $1,672 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 28720?
The FY2026 income limits of the Rutherford County, NC area apply: median family income $77,200, low-income (80%) limit $62,650 for a family of four.