Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Somerset, MI fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in Somerset, MI is $1,022 a month. That is up 2.0% from $1,002 in FY 2026. Somerset is in the Hillsdale County, MI non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in Michigan is $1,085, so Somerset is 6% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Somerset, MI
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$691
$712
+3.0%
$641–$783
1BR
$764
$781
+2.2%
$703–$859
2BR
$1,002
$1,022
+2.0%
$920–$1,124
3BR
$1,252
$1,274
+1.8%
$1,147–$1,401
4BR
$1,327
$1,343
+1.2%
$1,209–$1,477
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Somerset, MI
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$712
$781
$1,022
$1,274
$1,343
FY 2026
$691
$764
$1,002
$1,252
$1,327
FY 2025
$707
$711
$933
$1,188
$1,237
FY 2024
$720
$725
$952
$1,199
$1,306
FY 2023
$575
$631
$831
$1,036
$1,136
Questions about Somerset, MI rents
How much will Section 8 pay for a two-bedroom in Somerset, MI?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,022, that basic range is $920 to $1,124 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 Somerset, MI in?
Somerset, MI is in the Hillsdale County, MI non-metropolitan FMR area.
How much did fair market rent change in Somerset, MI for FY 2027?
The two-bedroom FMR rose 2.0%, from $1,002 in FY 2026 to $1,022 in FY 2027. Since FY 2023 it has risen 23.0%.
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 Fair Market Rents. 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