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MI/Houghton County/Dodgeville

Dodgeville, MI

CitySAFMR
Houghton County
Found 1 ZIP
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City Median Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,160$1,150
1 BR$1,170$1,100
2 BR$1,500$1,480
3 BR$2,080$1,960
4 BR$2,510$2,090
5 BR$2,887Not available
6 BR$3,319Not available
7 BR$3,817Not available
8 BR$4,390Not available

Purchase Price Calculator

Maximum purchase price
$158,011

Cost breakdown

+Likely effective rent$1,480
HUD FMR$1,500
Market rentUsed$1,480
Est. payment standard (99%)$1,490
-Principal and interest-$799
Loan amount$126,409
Down payment$31,602
Rate6.50%
Term30 years
-Operating costs-$481
Property taxes-$158
Insurance-$175
Utilities$0
HOA$0
Management-$148
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,878(75.6% ROI)
Projected value
$170,160
Return breakdown
Property appreciation+$12,150
Loan principal paid down+$4,529
Rental cash flow+$7,200
5-year hold
+$40,840(129.2% ROI)
Projected value
$178,775
Return breakdown
Property appreciation+$20,764
Loan principal paid down+$8,076
Rental cash flow+$12,000
10-year hold
+$87,501(276.9% ROI)
Projected value
$202,267
Return breakdown
Property appreciation+$44,256
Loan principal paid down+$19,244
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.01
1 BR
1.06
2 BR
1.01
3 BR
1.06
4 BR
1.20
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Dodgeville, MI fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Dodgeville, MI is $1,500 a month. That is up 2.7% from $1,460 in FY 2026. Dodgeville is in the Houghton County, MI non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,033. The median county two-bedroom FMR in Michigan is $1,085, so Dodgeville is 38% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Dodgeville, MI
BedroomsFY 2027Change90–110% range
Studio$1,160−2.5%$1,044–$1,276
1BR$1,170−2.5%$1,053–$1,287
2BR$1,500+2.7%$1,350–$1,650
3BR$2,080+2.5%$1,872–$2,288
4BR$2,510+2.4%$2,259–$2,761

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Dodgeville, MI
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,170$1,500$2,080$2,510
FY 2026$1,190$1,200$1,460$2,030$2,450
FY 2025$1,160$1,170$1,400$1,960$2,350
FY 2024area FMR$710$758$905$1,275$1,536
FY 2023area FMR$573$680$826$1,174$1,407

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Questions about Dodgeville, MI rents

How much will Section 8 pay for a two-bedroom in Dodgeville, MI?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,033, which applies unless the housing authority uses Small Area FMRs, that basic range is $930 to $1,136 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is Dodgeville, MI in?

Dodgeville, MI is in the Houghton County, MI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,033.

How much did fair market rent change in Dodgeville, MI for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,460 in FY 2026 to $1,500 in FY 2027. Since FY 2025 it has risen 7.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set