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Wayne County/New Boston/48164

48164

ZIPSAFMR
Wayne County, MI
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,380$1,440
1 BR$1,540$1,310
2 BR$1,930$1,460
3 BR$2,350$1,800
4 BR$2,560$1,890
5 BR$2,944Not available
6 BR$3,386Not available
7 BR$3,893Not available
8 BR$4,477Not available

Purchase Price Calculator

Maximum purchase price
$155,039

Cost breakdown

+Likely effective rent$1,460
HUD FMR$1,930
Market rentUsed$1,460
Est. payment standard (90%)$1,740
-Principal and interest-$784
Loan amount$124,031
Down payment$31,008
Rate6.50%
Term30 years
-Operating costs-$476
Property taxes-$155
Insurance-$175
Utilities$0
HOA$0
Management-$146
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,565(76.0% ROI)
Projected value
$166,960
Return breakdown
Property appreciation+$11,921
Loan principal paid down+$4,444
Rental cash flow+$7,200
5-year hold
+$40,298(130.0% ROI)
Projected value
$175,412
Return breakdown
Property appreciation+$20,373
Loan principal paid down+$7,924
Rental cash flow+$12,000
10-year hold
+$86,306(278.3% ROI)
Projected value
$198,463
Return breakdown
Property appreciation+$43,424
Loan principal paid down+$18,882
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
1.18
2 BR
1.32
3 BR
1.31
4 BR
1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48164 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48164 (New Boston, MI) is $1,930 a month. That is up 2.7% from $1,880 in FY 2026. New Boston 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 83 ZIP codes in Wayne County, 48164 has the 6th-highest two-bedroom rent (county range $1,010–$2,220). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48164 is 78% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48164
BedroomsFY 2027Change90–110% range
Studio$1,380+3.0%$1,242–$1,518
1BR$1,540+3.4%$1,386–$1,694
2BR$1,930+2.7%$1,737–$2,123
3BR$2,350+2.2%$2,115–$2,585
4BR$2,560+2.8%$2,304–$2,816

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48164
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,380$1,540$1,930$2,350$2,560
FY 2026$1,340$1,490$1,880$2,300$2,490
FY 2025$1,340$1,470$1,860$2,280$2,470
FY 2024$1,190$1,320$1,670$2,060$2,230
FY 2023$1,040$1,180$1,500$1,870$2,020

Two-bedroom rent in nearby Wayne County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48164
48150$1,640−15.0%
48151$1,390−28.0%
48152$1,660−14.0%
48153$1,390−28.0%
48154$1,490−22.8%
48164Current$1,930—
48167$1,950+1.0%
48168$2,220+15.0%
48170$1,570−18.7%
48173$1,390−28.0%
48174$1,370−29.0%
48180$1,270−34.2%

Questions about ZIP 48164 rents

How much will Section 8 pay for a two-bedroom in ZIP 48164?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,930, that basic range is $1,737 to $2,123 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 48164 in?

ZIP 48164 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 48164 for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,880 in FY 2026 to $1,930 in FY 2027. Since FY 2023 it has risen 28.7%.

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