Wake County, NC: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,6892-bedroom FMR, FY2027
$1,5521-bedroom FMR, FY2027
$105,85080% income limit, family of 4 (FY2026)
$132,300Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Wake County is $1,689 a month, down 3.5% from $1,750 in FY2026. Wake County belongs to the Raleigh-Cary, NC MSA FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Wake County by bedroom count

Unit sizeFY2027 FMRFY2026 FMRChangePayment standard range (90–110%)
Studio$1,489$1,524−2.3%$1,341 – $1,637
1 bedroom$1,552$1,596−2.8%$1,397 – $1,707
2 bedrooms$1,689$1,750−3.5%$1,521 – $1,857
3 bedrooms$2,103$2,196−4.2%$1,893 – $2,313
4 bedrooms$2,823$2,936−3.8%$2,541 – $3,105

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Wake County that is typically $1,521 to $1,857 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$65,172median income of renter households
$1,623Median gross rent, all units
30%Rent-to-income ratio (median rent ÷ median renter income)
48%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $65,172 can afford about $1,629 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,689 is $60 (3.7%) more than that. To rent a two-bedroom at the FMR, a household needs $67,560 a year under the 30% rule, or $60,804 under the common landlord rule that income must be three times the rent.

Wake County, ACS 2020–2024Estimate ± MOE
Median gross rent (rent + utilities)$1,623 ±$16
Median income of renter households$65,172 ±$1,743
Renters paying 30% or more of income (cost-burdened)48.3% ±1.5
Renters paying 50% or more (severely cost-burdened)22.0% ±0.9
Renter households (where the share can be computed)159,290

Change since 2015–2019

ACS 2015–2019ACS 2020–2024Change
Median gross rent$1,150$1,623+41.1%
Median renter household income$49,439$65,172+31.8%
Renters paying 30%+ of income43.2%48.3%+5.1 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,220 to $2,140 depending on the ZIP code.

All 86 ZIP codes in this FMR area
ZIP0 BR1 BR2 BR3 BR4 BR
27501$1,060$1,080$1,220$1,500$1,980
27502$1,820$1,890$2,060$2,570$3,440
27504$1,060$1,090$1,220$1,500$1,980
27508$1,060$1,080$1,220$1,500$1,980
27511$1,420$1,480$1,610$2,000$2,690
27512$1,530$1,600$1,740$2,170$2,910
27513$1,620$1,690$1,840$2,290$3,080
27518$1,590$1,650$1,800$2,240$3,010
27519$1,880$1,960$2,140$2,660$3,550
27520$1,450$1,510$1,640$2,040$2,740
27522$1,140$1,230$1,340$1,650$2,030
27523$1,820$1,900$2,080$2,580$3,390
27524$1,060$1,080$1,220$1,500$1,980
27525$1,060$1,080$1,220$1,500$1,980
27526$1,540$1,600$1,760$2,220$2,940
27527$1,680$1,750$1,900$2,370$3,180
27528$1,110$1,160$1,260$1,570$2,110
27529$1,390$1,450$1,580$1,970$2,640
27537$1,060$1,080$1,220$1,500$1,980
27539$1,750$1,830$1,990$2,480$3,330
27540$1,820$1,890$2,060$2,570$3,450
27542$1,060$1,080$1,220$1,500$1,980
27544$1,060$1,080$1,220$1,500$1,980
27545$1,570$1,640$1,780$2,220$2,980
27549$1,060$1,080$1,220$1,500$1,980
27555$1,060$1,080$1,220$1,500$1,980
27557$1,060$1,080$1,220$1,500$1,980
27560$1,860$1,940$2,120$2,640$3,460
27562$1,730$1,800$1,970$2,450$3,250
27568$1,060$1,080$1,220$1,500$1,980
27569$1,060$1,080$1,220$1,500$1,980
27571$1,470$1,540$1,670$2,080$2,780
27576$1,060$1,080$1,220$1,500$1,980
27577$1,060$1,080$1,220$1,500$1,980
27587$1,470$1,540$1,670$2,080$2,780
27588$1,530$1,600$1,740$2,170$2,910
27589$1,060$1,080$1,220$1,500$1,980
27591$1,270$1,320$1,440$1,790$2,410
27592$1,060$1,080$1,220$1,500$1,980
27593$1,110$1,160$1,260$1,570$2,110
27596$1,160$1,210$1,320$1,640$2,200
27597$1,060$1,080$1,220$1,500$1,980
27601$1,540$1,610$1,750$2,180$2,930
27602$1,530$1,600$1,740$2,170$2,910
27603$1,410$1,470$1,600$1,990$2,670
27604$1,430$1,490$1,620$2,020$2,710
27605$1,610$1,680$1,830$2,280$3,060
27606$1,460$1,520$1,660$2,070$2,770
27607$1,530$1,590$1,730$2,150$2,890
27608$1,590$1,650$1,800$2,240$3,010
27609$1,530$1,590$1,730$2,150$2,890
27610$1,250$1,300$1,420$1,770$2,370
27611$1,530$1,600$1,740$2,170$2,910
27612$1,720$1,790$1,950$2,430$3,260
27613$1,490$1,550$1,690$2,110$2,820
27614$1,540$1,610$1,750$2,180$2,930
27615$1,660$1,730$1,880$2,340$3,140
27616$1,530$1,600$1,740$2,170$2,910
27617$1,680$1,750$1,910$2,370$3,170
27619$1,530$1,600$1,740$2,170$2,910
27620$1,530$1,600$1,740$2,170$2,910
27622$1,530$1,600$1,740$2,170$2,910
27623$1,530$1,600$1,740$2,170$2,910
27624$1,530$1,600$1,740$2,170$2,910
27627$1,530$1,600$1,740$2,170$2,910
27628$1,530$1,600$1,740$2,170$2,910
27629$1,530$1,600$1,740$2,170$2,910
27636$1,530$1,600$1,740$2,170$2,910
27640$1,530$1,600$1,740$2,170$2,910
27656$1,530$1,600$1,740$2,170$2,910
27658$1,530$1,600$1,740$2,170$2,910
27661$1,530$1,600$1,740$2,170$2,910
27675$1,530$1,600$1,740$2,170$2,910
27676$1,530$1,600$1,740$2,170$2,910
27690$1,530$1,600$1,740$2,170$2,910
27695$1,530$1,590$1,730$2,150$2,890
27697$1,530$1,600$1,740$2,170$2,910
27699$1,530$1,600$1,740$2,170$2,910
27703$1,570$1,630$1,830$2,270$2,610
27713$1,650$1,710$1,920$2,380$2,740
27816$1,060$1,080$1,220$1,500$1,980
27844$1,060$1,080$1,220$1,500$1,980
27863$1,060$1,080$1,220$1,500$1,980
27882$1,060$1,080$1,220$1,500$1,980
28334$1,060$1,080$1,220$1,500$1,980
28366$1,060$1,080$1,220$1,500$1,980

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Wake County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $132,300 (FY2025: $132,700, −0.3%). Small figures under each limit show the change from FY2025.

Household size1 person2 people3 people4 people5 people6 people7 people8 people
Extremely low income (30%)$27,800
−0.4%		$31,800
−0.2%		$35,750
−0.3%		$39,700
−0.3%		$42,900
−0.2%		$46,100
−0.2%		$50,040
+1.3%		$55,720
+2.9%
Very low income (50%)$46,350
−0.2%		$52,950
−0.3%		$59,550
−0.3%		$66,150
−0.3%		$71,450
−0.3%		$76,750
−0.3%		$82,050
−0.3%		$87,350
−0.3%
Low income (80%)$74,100
+1.6%		$84,700
+1.6%		$95,300
+1.6%		$105,850
+1.6%		$114,350
+1.6%		$122,800
+1.6%		$131,300
+1.6%		$139,750
+1.6%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.

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