FMR is below market; voucher rent may lag private rents.
0.88
1 BR
1 BR
1.27ratio
FMR$1,750
Market$1,380
vs market+$370
FMR is above market; underwrite to market rent.
1.27
2 BR
2 BR
0.73ratio
FMR$2,110
Market$2,890
vs market-$780
FMR is below market; voucher rent may lag private rents.
0.73
3 BR
3 BR
0.76ratio
FMR$2,530
Market$3,320
vs market-$790
FMR is below market; voucher rent may lag private rents.
0.76
4 BR
4 BR
0.69ratio
FMR$2,770
Market$4,010
vs market-$1,240
FMR is below market; voucher rent may lag private rents.
0.69
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
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ZIP 48109 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48109 (Ann Arbor, MI) is $2,110 a month. That is up 31.1% from $1,610 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, 48109 has the 5th-highest two-bedroom rent (county range $1,500–$2,260). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48109 is 94% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 48109
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,330
$1,700
+27.8%
$1,530–$1,870
1BR
$1,350
$1,750
+29.6%
$1,575–$1,925
2BR
$1,610
$2,110
+31.1%
$1,899–$2,321
3BR
$1,930
$2,530
+31.1%
$2,277–$2,783
4BR
$2,130
$2,770
+30.0%
$2,493–$3,047
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 48109
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,700
$1,750
$2,110
$2,530
$2,770
FY 2026
$1,330
$1,350
$1,610
$1,930
$2,130
FY 2025
$1,330
$1,350
$1,600
$1,930
$2,170
FY 2024
$1,470
$1,490
$1,770
$2,140
$2,410
FY 2023
$1,370
$1,380
$1,660
$2,020
$2,300
Two-bedroom rent in nearby Washtenaw County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 48109?
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 $2,110 it would be $1,899 to $2,321. 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 48109 in?
ZIP 48109 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 48109 for FY 2027?
The two-bedroom FMR rose 31.1%, from $1,610 in FY 2026 to $2,110 in FY 2027. Since FY 2023 it has risen 27.1%.
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