Skip to main content
Loading page
MI/Oakland County/Harsens Island

Harsens Island, MI

CitySAFMR
Oakland County
Found 1 ZIP

City Median Investment Score

54Below average

095130300
BRFMR
Eff. Rent
0 BR$850$920
1 BR$950$960
2 BR$1,190$1,220
3 BR$1,450$1,460
4 BR$1,570$1,570
5 BR$1,805Not available
6 BR$2,076Not available
7 BR$2,388Not available
8 BR$2,746Not available

Purchase Price Calculator

Maximum purchase price
$119,375

Cost breakdown

+Likely effective rent$1,220
HUD FMR$1,190
Market rent$1,230
Est. payment standard (102%)Used$1,220
-Principal and interest-$604
Loan amount$95,500
Down payment$23,875
Rate6.50%
Term30 years
-Operating costs-$416
Property taxes-$119
Insurance-$175
Utilities$0
HOA$0
Management-$122
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,800(82.9% ROI)
Projected value
$128,554
Return breakdown
Property appreciation+$9,179
Loan principal paid down+$3,422
Rental cash flow+$7,200
5-year hold
+$33,788(141.5% ROI)
Projected value
$135,062
Return breakdown
Property appreciation+$15,687
Loan principal paid down+$6,102
Rental cash flow+$12,000
10-year hold
+$71,974(301.5% ROI)
Projected value
$152,810
Return breakdown
Property appreciation+$33,435
Loan principal paid down+$14,539
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.89
1 BR
0.99
2 BR
0.97
3 BR
0.99
4 BR
1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Harsens Island, MI fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Harsens Island, MI is $1,190 a month. That is up 3.5% from $1,150 in FY 2026. Harsens Island 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 Harsens Island is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Harsens Island, MI
BedroomsFY 2027Change90–110% range
Studio$850+3.7%$765–$935
1BR$950+4.4%$855–$1,045
2BR$1,190+3.5%$1,071–$1,309
3BR$1,450+3.6%$1,305–$1,595
4BR$1,570+3.3%$1,413–$1,727

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Harsens Island, MI
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$950$1,190$1,450$1,570
FY 2026$820$910$1,150$1,400$1,520
FY 2025$870$960$1,210$1,480$1,600
FY 2024$860$960$1,210$1,500$1,610
FY 2023$850$960$1,220$1,520$1,640

Questions about Harsens Island, MI rents

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

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,190, that basic range is $1,071 to $1,309 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 Harsens Island, MI in?

Harsens Island, 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 Harsens Island, MI for FY 2027?

The two-bedroom FMR rose 3.5%, from $1,150 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has fallen 2.5%.

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