North Carolina · FIPS 37069 · HUD FY 2027
Franklin County, North Carolina Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Franklin County is $1,689 a month (rent plus utilities), 17% above the North Carolina average of $1,441 and 4% below the U.S. average of $1,761. That is down $61 (3.5%) from FY 2026. At 30% of income, a household needs about $67,560 a year to afford it.
- $1,6892-bedroom FMR−$61 (−3.5%) vs FY 2026
- $1,5521-bedroom FMRNorth Carolina: $1,282 · U.S.: $1,478
- $67,560Income for a 2-bedroom$32/hour full-time
- 12 of 1002BR rank in North Carolina1 = highest rent
| Unit | Franklin County FY 2027 | FY 2026 | Change | North Carolina avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,489 | $1,524 | −$35 (−2.3%) | $1,215 | $1,379 | $59,560 |
| 1 bedroom | $1,552 | $1,596 | −$44 (−2.8%) | $1,282 | $1,478 | $62,080 |
| 2 bedrooms | $1,689 | $1,750 | −$61 (−3.5%) | $1,441 | $1,761 | $67,560 |
| 3 bedrooms | $2,103 | $2,196 | −$93 (−4.2%) | $1,823 | $2,266 | $84,120 |
| 4 bedrooms | $2,823 | $2,936 | −$113 (−3.8%) | $2,256 | $2,607 | $112,920 |
How Franklin County compares
- HUD sets this rent for the Raleigh-Cary, NC metro FMR area, which covers 1,487,302 residents in 3 counties.
- Across North Carolina, 2-bedroom FMRs run from $1,012 (Wilkes County) to $1,866 (Buncombe County).
- Studio to 4-bedroom: $1,489, $1,552, $1,689, $2,103, $2,823. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 5 ZIP codes mostly in Franklin County (by land area), the 2-bedroom figure ranges from $1,220 to $1,320.
Small Area FMRs by ZIP code in Franklin County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 27508 | $1,060 | $1,080 | $1,220 | $1,500 | $1,980 | −$130 (−9.6%) | 28% below |
| 27525 | $1,060 | $1,080 | $1,220 | $1,500 | $1,980 | −$130 (−9.6%) | 28% below |
| 27549 | $1,060 | $1,080 | $1,220 | $1,500 | $1,980 | −$130 (−9.6%) | 28% below |
| 27596 | $1,160 | $1,210 | $1,320 | $1,640 | $2,200 | −$70 (−5.0%) | 22% below |
| 27816 | $1,060 | $1,080 | $1,220 | $1,500 | $1,980 | −$130 (−9.6%) | 28% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.