FY2027 Small Area FMR · Penland, NC

ZIP 28765 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 28765 (Penland, NC) is $1,010 a month, up 8.6% from FY2026. That is 0% equal to the Mitchell County, NC area-wide FMR of $1,012.

2-bedroom SAFMR$1,010per month ▲ 8.6%

Area-wide 2 BR FMR$1,012Mitchell County, NC

Rank in the area4thof 6 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$770▲ 10.0%

1 BR$770▲ 8.5%

2 BR$1,010▲ 8.6%

3 BR$1,210▲ 6.1%

4 BR$1,330▲ 8.1%

FY2027 FY2026

Where 28765 sits in the Mitchell County, NC area

Of the 6 ZIP codes HUD lists for the area, 28765 has the 4th highest two-bedroom Small Area FMR. Mitchell 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 $1,010 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	$770	$693 – $847	$769	$700
1 bedroom	$770	$693 – $847	$774	$710
2 bedrooms	$1,010	$909 – $1,111	$1,012	$930
3 bedrooms	$1,210	$1,089 – $1,331	$1,206	$1,140
4 bedrooms	$1,330	$1,197 – $1,463	$1,330	$1,230

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 a year to keep housing costs at 30% of income. The area median family income is $77,900 and the 80% low-income limit for four people is $62,650. ZIP code 28765 lies mainly in Mitchell County. See the Mitchell County, NC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
28777	Spruce Pine	2.6 mi	$1,010
28749	Little Switzerland	5.7 mi	$1,010
28755	Micaville	5.8 mi	$1,050
28705	Bakersville	8.1 mi	$1,120
28664	Plumtree	10.3 mi	$1,010
28714	Burnsville	11.0 mi	$1,660

Questions

What is the Fair Market Rent for ZIP code 28765?

HUD's FY2027 Small Area Fair Market Rents for 28765 are $770 (studio), $770 (1 BR), $1,010 (2 BR), $1,210 (3 BR) and $1,330 (4 BR) a month.

What is the Section 8 payment standard in 28765?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 28765 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 28765?

The FY2026 income limits of the Mitchell County, NC area apply: median family income $77,900, low-income (80%) limit $62,650 for a family of four.