FMR is near market; voucher and private rents are aligned.
0.95
1 BR
1 BR- 48025
1.12ratio
FMR$1,750
Market$1,560
vs market+$190
FMR is above market; underwrite to market rent.
1.12
2 BR
2 BR- 48025
0.93ratio
FMR$2,190
Market$2,360
vs market-$170
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR- 48025
0.93ratio
FMR$2,670
Market$2,860
vs market-$190
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR- 48025
0.76ratio
FMR$2,900
Market$3,800
vs market-$900
FMR is below market; voucher rent may lag private rents.
0.76
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Franklin, MI fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Franklin, MI is $2,190 a month. That is up 3.3% from $2,120 in FY 2026. Franklin is in the Detroit-Warren-Livonia, MI HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Michigan is $1,085, so Franklin is 102% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Franklin, MI
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,520
$1,570
+3.3%
$1,413–$1,727
1BR
$1,690
$1,750
+3.6%
$1,575–$1,925
2BR
$2,120
$2,190
+3.3%
$1,971–$2,409
3BR
$2,590
$2,670
+3.1%
$2,403–$2,937
4BR
$2,810
$2,900
+3.2%
$2,610–$3,190
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Franklin, MI
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,570
$1,750
$2,190
$2,670
$2,900
FY 2026
$1,520
$1,690
$2,120
$2,590
$2,810
FY 2025
$1,490
$1,640
$2,070
$2,540
$2,740
FY 2024
$1,330
$1,480
$1,870
$2,310
$2,490
FY 2023
$1,190
$1,340
$1,710
$2,130
$2,300
Questions about Franklin, MI rents
How much will Section 8 pay for a two-bedroom in Franklin, MI?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,190, that basic range is $1,971 to $2,409 a month. 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 Franklin, MI in?
Franklin, MI is in the Detroit-Warren-Livonia, MI HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Franklin, MI for FY 2027?
The two-bedroom FMR rose 3.3%, from $2,120 in FY 2026 to $2,190 in FY 2027. Since FY 2023 it has risen 28.1%.
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