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St. Clair County/Fair Haven/48023

48023

ZIPSAFMR
St. Clair County, MI
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$1,090$1,020
1 BR$1,220$1,090
2 BR$1,520$1,420
3 BR$1,850$1,560
4 BR$2,010$1,760
5 BR$2,312Not available
6 BR$2,658Not available
7 BR$3,057Not available
8 BR$3,516Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,520
Market rentUsed$1,420
Est. payment standard (96%)$1,460
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.12
2 BR
1.07
3 BR
1.19
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48023 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48023 (Fair Haven, MI) is $1,520 a month. That is unchanged from FY 2026. Fair Haven 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. Among 25 ZIP codes in St. Clair County, 48023 has the highest two-bedroom rent (county range $1,020–$1,520). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48023 is 40% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48023
BedroomsFY 2027Change90–110% range
Studio$1,0900.0%$981–$1,199
1BR$1,220+0.8%$1,098–$1,342
2BR$1,5200.0%$1,368–$1,672
3BR$1,850−0.5%$1,665–$2,035
4BR$2,0100.0%$1,809–$2,211

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48023
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,220$1,520$1,850$2,010
FY 2026$1,090$1,210$1,520$1,860$2,010
FY 2025$1,030$1,130$1,430$1,750$1,900
FY 2024$930$1,030$1,310$1,620$1,740
FY 2023$830$930$1,190$1,480$1,600

Two-bedroom rent in nearby St. Clair County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48023
48002$1,300−14.5%
48004$1,270−16.4%
48006$1,370−9.9%
48014$1,020−32.9%
48022$1,180−22.4%
48023Current$1,520—
48027$1,030−32.2%
48028$1,190−21.7%
48032$1,160−23.7%
48039$1,120−26.3%
48040$1,200−21.1%
48041$1,100−27.6%

Questions about ZIP 48023 rents

How much will Section 8 pay for a two-bedroom in ZIP 48023?

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 ZIP 48023 in?

ZIP 48023 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 ZIP 48023 for FY 2027?

The two-bedroom FMR was unchanged at $1,520 in FY 2027. Since FY 2023 it has risen 27.7%.

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

County fair market rentFair Haven, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources