Skip to main content
Loading page
Oakland County/Troy/48083

48083

ZIPSAFMR
Oakland County, MI
Zillow

ZIP Investment Score

111Above average

095130300
BRFMR
Eff. Rent
0 BR$1,300$1,370
1 BR$1,450$1,500
2 BR$1,810$1,860
3 BR$2,200$2,210
4 BR$2,390$2,630
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$214,479

Cost breakdown

+Likely effective rent$1,860
HUD FMR$1,810
Market rent$1,890
Est. payment standard (103%)Used$1,860
-Principal and interest-$1,085
Loan amount$171,583
Down payment$42,896
Rate6.50%
Term30 years
-Operating costs-$575
Property taxes-$214
Insurance-$175
Utilities$0
HOA$0
Management-$186
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,839(69.6% ROI)
Projected value
$230,970
Return breakdown
Property appreciation+$16,491
Loan principal paid down+$6,147
Rental cash flow+$7,200
5-year hold
+$51,147(119.2% ROI)
Projected value
$242,663
Return breakdown
Property appreciation+$28,184
Loan principal paid down+$10,962
Rental cash flow+$12,000
10-year hold
+$110,194(256.9% ROI)
Projected value
$274,551
Return breakdown
Property appreciation+$60,072
Loan principal paid down+$26,122
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.92
1 BR
0.95
2 BR
0.96
3 BR
1.00
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48083 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48083 (Troy, MI) is $1,810 a month. That is up 3.4% from $1,750 in FY 2026. Troy 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 93 ZIP codes in Oakland County, 48083 is tied for the 24th-highest two-bedroom rent (county range $1,100–$2,190). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48083 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48083
BedroomsFY 2027Change90–110% range
Studio$1,300+4.0%$1,170–$1,430
1BR$1,450+4.3%$1,305–$1,595
2BR$1,810+3.4%$1,629–$1,991
3BR$2,200+2.8%$1,980–$2,420
4BR$2,390+3.0%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48083
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,300$1,450$1,810$2,200$2,390
FY 2026$1,250$1,390$1,750$2,140$2,320
FY 2025$1,220$1,340$1,700$2,080$2,250
FY 2024$1,130$1,250$1,580$1,950$2,100
FY 2023$1,020$1,150$1,460$1,820$1,960

Two-bedroom rent in nearby Oakland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48083
48068$1,630−9.9%
48069$2,120+17.1%
48070$2,190+21.0%
48071$1,430−21.0%
48072$1,760−2.8%
48073$1,710−5.5%
48075$1,570−13.3%
48076$1,760−2.8%
48083Current$1,810—
48084$2,100+16.0%
48085$2,190+21.0%
48098$2,000+10.5%

Questions about ZIP 48083 rents

How much will Section 8 pay for a two-bedroom in ZIP 48083?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,810, that basic range is $1,629 to $1,991 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 48083 in?

ZIP 48083 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 48083 for FY 2027?

The two-bedroom FMR rose 3.4%, from $1,750 in FY 2026 to $1,810 in FY 2027. Since FY 2023 it has risen 24.0%.

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

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