Madison County, NC

2024 Fair Market Rents

Tags: 2024 Asheville, NC HUD Metro FMR Area

Return to the state page to see where North Carolina ranks nationally and to view information on other counties. Click on the map to view a different county.

The top one largest cities in Madison County are Mars Hill. Fair Market Rents on this page may apply depending on whether the county uses SAFMRs or county level FMRs. Cities in multiple SAFMR areas will have different SAFMRS based on ZIP code.

What type of FMR does Madison County use?

Small Area Fair Market Rents were created by the HUD for this county/Metro Fmr Area however Madison County is not required to use Small Area FMRs by the HUD. It is at the discretion of the local Housing Authority to determine if SAFMRs or 40th percentile FMRs are used.

To learn more about the criteria the HUD uses to determine if a Metro FMR Area requires Small Area Fair Market Rents click here.

How does Madison County compare?

Madison County ($1,680) has a 55.1% higher FMR for 2-Bedroom housing than the average of North Carolina ($1,083) and therefore a higher gross rent.

Madison County is rank 1st out of 100 counties. This means the FMRs, or in other words, the gross rent is higher than all other counties. Madison County is the most expensive county in terms of FMRs.

Rent Tables Madison County, NC

Fair Market Rent (40th Percentile)

$1,428
studio
$1,496
1-Bedroom
$1,680
2-Bedroom
$2,160
3-Bedroom
$2,851
4-Bedroom

Median Rent (50th Percentile)

$1,496
studio
$1,569
1-Bedroom
$1,761
2-Bedroom
$2,264
3-Bedroom
$2,988
4-Bedroom

Small Market Areas (By Zip Code)

The 90% and 110% SAFMRs represent the minimum and maximum payment standards that can be set by the local Public Housing Authority under regular conditions. The payment standard is the actual value used in Section 8. For more on payment standards click here.

FMRs and SAFMRs are set by the HUD. The local PHA takes these FMR/SAFMR values and may decide to use any value that is within +-10% of the FMR/SAFMR as the payment standard for the areas under their jurisdiction.

For a more in-depth explaination return to the overview page.

ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
28754 $0 $1,170 $1,320 $1,760 $2,250
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
28754 $1,035 $1,053 $1,188 $1,584 $2,025
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
28754 $1,265 $1,287 $1,452 $1,936 $2,475

Fair Market Rents on this page apply to the following city in Madison County, North Carolina: Mars Hill.

These Fair Market Rents also apply to the following ZIP code in Madison County, North Carolina: 28754.

Madison County, NC is considered part of the following metro FMR area: ASHEVILLE, NC HUD METRO FMR AREA.

Other counties in the same metro FMR area are: Henderson County, NC, and Buncombe County, NC.

More on Madison County, NC

Citation

Link to this Page:

Questions or Comments? Contact us

Data Source

HUD Seal

Fair Market Rents are published by the Department of Housing And Urban Development.