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Washtenaw County/Milan/48160

48160

ZIPSAFMR
Washtenaw County, MI
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,230$1,230
1 BR$1,250$1,250
2 BR$1,530$1,530
3 BR$1,850$1,850
4 BR$2,190$2,190
5 BR$2,519Not available
6 BR$2,896Not available
7 BR$3,331Not available
8 BR$3,830Not available

Purchase Price Calculator

Maximum purchase price
$165,441

Cost breakdown

+Likely effective rent$1,530
HUD FMRUsed$1,530
Market rentN/A
Est. payment standardN/A
-Principal and interest-$837
Loan amount$132,353
Down payment$33,088
Rate6.50%
Term30 years
-Operating costs-$493
Property taxes-$165
Insurance-$175
Utilities$0
HOA$0
Management-$153
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,663(74.5% ROI)
Projected value
$178,162
Return breakdown
Property appreciation+$12,721
Loan principal paid down+$4,742
Rental cash flow+$7,200
5-year hold
+$42,196(127.5% ROI)
Projected value
$187,181
Return breakdown
Property appreciation+$21,740
Loan principal paid down+$8,456
Rental cash flow+$12,000
10-year hold
+$90,487(273.5% ROI)
Projected value
$211,778
Return breakdown
Property appreciation+$46,337
Loan principal paid down+$20,149
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 48160 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48160 (Milan, MI) is $1,530 a month. That is up 2.0% from $1,500 in FY 2026. Milan 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, 48160 is tied for the 20th-highest two-bedroom rent (county range $1,500–$2,260). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48160 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48160
BedroomsFY 2027Change90–110% range
Studio$1,230+2.5%$1,107–$1,353
1BR$1,250+2.5%$1,125–$1,375
2BR$1,530+2.0%$1,377–$1,683
3BR$1,850+2.2%$1,665–$2,035
4BR$2,190+1.9%$1,971–$2,409

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48160
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,230$1,250$1,530$1,850$2,190
FY 2026$1,200$1,220$1,500$1,810$2,150
FY 2025$1,100$1,150$1,420$1,730$2,020
FY 2024$1,040$1,040$1,280$1,570$1,860
FY 2023$950$950$1,140$1,410$1,660

Two-bedroom rent in nearby Washtenaw County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48160
48137$1,500−2.0%
48158$1,500−2.0%
48160Current$1,530—
48167$1,950+27.5%
48168$2,220+45.1%
48169$1,570+2.6%
48170$1,570+2.6%
48175$1,800+17.6%
48176$1,500−2.0%
48178$1,520−0.7%
48187$1,810+18.3%
48189$1,500−2.0%

Questions about ZIP 48160 rents

How much will Section 8 pay for a two-bedroom in ZIP 48160?

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 $1,530 it would be $1,377 to $1,683. 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 48160 in?

ZIP 48160 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 48160 for FY 2027?

The two-bedroom FMR rose 2.0%, from $1,500 in FY 2026 to $1,530 in FY 2027. Since FY 2023 it has risen 34.2%.

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