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Washtenaw County/Ann Arbor/48103

48103

ZIPSAFMR
Washtenaw County, MI
Zillow

ZIP Investment Score

62Below average

095130300
BRFMR
Eff. Rent
0 BR$1,830$1,480
1 BR$1,880$1,610
2 BR$2,260$2,170
3 BR$2,710$2,780
4 BR$2,970$3,180
5 BR$3,415Not available
6 BR$3,928Not available
7 BR$4,517Not available
8 BR$5,195Not available

Purchase Price Calculator

Maximum purchase price
$260,545

Cost breakdown

+Likely effective rent$2,170
HUD FMR$2,260
Market rentUsed$2,170
Est. payment standard (97%)$2,200
-Principal and interest-$1,317
Loan amount$208,436
Down payment$52,109
Rate6.50%
Term30 years
-Operating costs-$653
Property taxes-$261
Insurance-$175
Utilities$0
HOA$0
Management-$217
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,701(66.6% ROI)
Projected value
$280,578
Return breakdown
Property appreciation+$20,033
Loan principal paid down+$7,468
Rental cash flow+$7,200
5-year hold
+$59,555(114.3% ROI)
Projected value
$294,782
Return breakdown
Property appreciation+$34,238
Loan principal paid down+$13,317
Rental cash flow+$12,000
10-year hold
+$128,707(247.0% ROI)
Projected value
$333,519
Return breakdown
Property appreciation+$72,975
Loan principal paid down+$31,732
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.24
1 BR
1.17
2 BR
1.04
3 BR
0.96
4 BR
0.90
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48103 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48103 (Ann Arbor, MI) is $2,260 a month. That is up 8.7% from $2,080 in FY 2026. Ann Arbor is in the Ann Arbor, MI MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,804. Among 33 ZIP codes in Washtenaw County, 48103 has the highest two-bedroom rent (county range $1,500–$2,260). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48103 is 108% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48103
BedroomsFY 2027Change90–110% range
Studio$1,830+7.0%$1,647–$2,013
1BR$1,880+8.0%$1,692–$2,068
2BR$2,260+8.7%$2,034–$2,486
3BR$2,710+8.8%$2,439–$2,981
4BR$2,970+8.0%$2,673–$3,267

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48103
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,830$1,880$2,260$2,710$2,970
FY 2026$1,710$1,740$2,080$2,490$2,750
FY 2025$1,630$1,650$1,970$2,370$2,610
FY 2024$1,510$1,530$1,820$2,200$2,480
FY 2023$1,380$1,390$1,670$2,030$2,320

Two-bedroom rent in nearby Washtenaw County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48103
48103Current$2,260—
48104$2,140−5.3%
48105$2,070−8.4%
48106$1,800−20.4%
48107$1,800−20.4%
48108$1,730−23.5%
48109$2,110−6.6%
48111$1,530−32.3%
48113$1,800−20.4%
48118$2,030−10.2%
48130$2,120−6.2%
48137$1,500−33.6%

Questions about ZIP 48103 rents

How much will Section 8 pay for a two-bedroom in ZIP 48103?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,804, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,624 to $1,984 a month; under the ZIP-level Small Area FMR of $2,260 it would be $2,034 to $2,486. 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 48103 in?

ZIP 48103 is in the Ann Arbor, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,804.

How much did fair market rent change in ZIP 48103 for FY 2027?

The two-bedroom FMR rose 8.7%, from $2,080 in FY 2026 to $2,260 in FY 2027. Since FY 2023 it has risen 35.3%.

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 rentAnn Arbor, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources