FMR is below market; voucher rent may lag private rents.
0.90
1 BR
1 BR- 48178
1.10ratio
FMR$1,250
Market$1,140
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.10
2 BR
2 BR- 48178
1.04ratio
FMR$1,520
Market$1,460
vs market+$60
FMR is near market; voucher and private rents are aligned.
1.04
3 BR
3 BR- 48178
0.94ratio
FMR$1,920
Market$2,040
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.94
4 BR
4 BR- 48178
0.66ratio
FMR$2,120
Market$3,220
vs market-$1,100
FMR is below market; voucher rent may lag private rents.
0.66
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
--
South Lyon, MI fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in South Lyon, MI is $1,520 a month. That is up 4.8% from $1,450 in FY 2026. South Lyon 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 South Lyon is 40% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for South Lyon, MI
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,040
$1,130
+8.7%
$1,017–$1,243
1BR
$1,190
$1,250
+5.0%
$1,125–$1,375
2BR
$1,450
$1,520
+4.8%
$1,368–$1,672
3BR
$1,840
$1,920
+4.3%
$1,728–$2,112
4BR
$2,020
$2,120
+5.0%
$1,908–$2,332
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for South Lyon, MI
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,130
$1,250
$1,520
$1,920
$2,120
FY 2026
$1,040
$1,190
$1,450
$1,840
$2,020
FY 2025
$1,100
$1,180
$1,450
$1,840
$2,010
FY 2024
$1,040
$1,120
$1,390
$1,770
$1,930
FY 2023
$950
$1,050
$1,300
$1,660
$1,810
Questions about South Lyon, MI rents
How much will Section 8 pay for a two-bedroom in South Lyon, MI?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,520, that basic range is $1,368 to $1,672 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 South Lyon, MI in?
South Lyon, 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 South Lyon, MI for FY 2027?
The two-bedroom FMR rose 4.8%, from $1,450 in FY 2026 to $1,520 in FY 2027. Since FY 2023 it has risen 16.9%.
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