ZIP 27020 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 27020 in the Iredell County, NC FMR area.

Iredell County, NC

$830Efficiency

$9201 bedroom

$1,0102 bedrooms

$1,3403 bedrooms

$1,6104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$1,260
1 bedroom	$920	$828	$1,012	$1,313
2 bedrooms	$1,010	$909	$1,111	$1,429
3 bedrooms	$1,340	$1,206	$1,474	$1,897
4 bedrooms	$1,610	$1,449	$1,771	$2,389

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Winston-Salem, NC

$830Efficiency

$9201 bedroom

$1,0102 bedrooms

$1,3403 bedrooms

$1,6104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$1,079
1 bedroom	$920	$828	$1,012	$1,224
2 bedrooms	$1,010	$909	$1,111	$1,332
3 bedrooms	$1,340	$1,206	$1,474	$1,754
4 bedrooms	$1,610	$1,449	$1,771	$2,135

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Wilkes County, NC

$830Efficiency

$9201 bedroom

$1,0102 bedrooms

$1,3403 bedrooms

$1,6104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$864
1 bedroom	$920	$828	$1,012	$875
2 bedrooms	$1,010	$909	$1,111	$1,012
3 bedrooms	$1,340	$1,206	$1,474	$1,357
4 bedrooms	$1,610	$1,449	$1,771	$1,554

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 27020

$61,931average adjusted gross income per tax return (2022)

$43,134average salaries and wages per return

2,710tax returns filed

20%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	28.8%
$25,000 to $50,000	27.7%
$50,000 to $75,000	16.6%
$75,000 to $100,000	11.8%
$100,000 to $200,000	12.5%
$200,000 or more	2.6%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 17.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 27020?

HUD's FY2027 Small Area FMRs for ZIP 27020 (Iredell County, NC) are $830 efficiency, $920 one bedroom, $1,010 two bedrooms, $1,340 three and $1,610 four bedrooms.

What payment standard can a housing authority set in ZIP 27020?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $909 to $1,111.

How affordable is rent in ZIP 27020?

Tax returns filed from ZIP 27020 reported an average adjusted gross income of $61,931 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 20% of that income.