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MI/Oakland County/Union Lake

Union Lake, MI

CitySAFMR
Oakland County
Found 1 ZIP
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City Median Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,170$1,140
1 BR$1,300$1,240
2 BR$1,630$1,490
3 BR$1,980$2,030
4 BR$2,150$2,370
5 BR$2,473Not available
6 BR$2,843Not available
7 BR$3,270Not available
8 BR$3,760Not available

Purchase Price Calculator

Maximum purchase price
$159,497

Cost breakdown

+Likely effective rent$1,490
HUD FMR$1,630
Market rentUsed$1,490
Est. payment standard (94%)$1,540
-Principal and interest-$807
Loan amount$127,598
Down payment$31,899
Rate6.50%
Term30 years
-Operating costs-$483
Property taxes-$159
Insurance-$175
Utilities$0
HOA$0
Management-$149
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,035(75.3% ROI)
Projected value
$171,761
Return breakdown
Property appreciation+$12,264
Loan principal paid down+$4,572
Rental cash flow+$7,200
5-year hold
+$41,111(128.9% ROI)
Projected value
$180,456
Return breakdown
Property appreciation+$20,959
Loan principal paid down+$8,152
Rental cash flow+$12,000
10-year hold
+$88,098(276.2% ROI)
Projected value
$204,170
Return breakdown
Property appreciation+$44,673
Loan principal paid down+$19,425
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.03
1 BR
1.05
2 BR
1.09
3 BR
0.96
4 BR
0.77
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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Union Lake, MI fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Union Lake, MI is $1,630 a month. That is up 3.2% from $1,580 in FY 2026. Union Lake 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 Union Lake is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Union Lake, MI
BedroomsFY 2027Change90–110% range
Studio$1,170+3.5%$1,053–$1,287
1BR$1,300+3.2%$1,170–$1,430
2BR$1,630+3.2%$1,467–$1,793
3BR$1,980+2.6%$1,782–$2,178
4BR$2,150+2.9%$1,935–$2,365

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Union Lake, MI
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,170$1,300$1,630$1,980$2,150
FY 2026$1,130$1,260$1,580$1,930$2,090
FY 2025$1,110$1,220$1,540$1,890$2,040
FY 2024$1,040$1,150$1,460$1,800$1,940
FY 2023$950$1,080$1,370$1,710$1,840

Questions about Union Lake, MI rents

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

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,630, that basic range is $1,467 to $1,793 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 Union Lake, MI in?

Union Lake, 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 Union Lake, MI for FY 2027?

The two-bedroom FMR rose 3.2%, from $1,580 in FY 2026 to $1,630 in FY 2027. Since FY 2023 it has risen 19.0%.

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 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