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Wayne County/Detroit/48226

48226

ZIPSAFMR
Wayne County, MI
Zillow

ZIP Investment Score

113Above average

095130300
BRFMR
Eff. Rent
0 BR$1,560$1,260
1 BR$1,740$1,770
2 BR$2,170$2,390
3 BR$2,640$2,660
4 BR$2,870$3,160
5 BR$3,300Not available
6 BR$3,796Not available
7 BR$4,365Not available
8 BR$5,020Not available

Purchase Price Calculator

Maximum purchase price
$293,237

Cost breakdown

+Likely effective rent$2,390
HUD FMR$2,170
Market rent$2,580
Est. payment standard (110%)Used$2,390
-Principal and interest-$1,483
Loan amount$234,589
Down payment$58,647
Rate6.50%
Term30 years
-Operating costs-$707
Property taxes-$293
Insurance-$175
Utilities$0
HOA$0
Management-$239
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$38,152(65.1% ROI)
Projected value
$315,784
Return breakdown
Property appreciation+$22,547
Loan principal paid down+$8,405
Rental cash flow+$7,200
5-year hold
+$65,522(111.7% ROI)
Projected value
$331,770
Return breakdown
Property appreciation+$38,534
Loan principal paid down+$14,988
Rental cash flow+$12,000
10-year hold
+$141,845(241.9% ROI)
Projected value
$375,368
Return breakdown
Property appreciation+$82,131
Loan principal paid down+$35,714
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.24
1 BR
0.97
2 BR
0.84
3 BR
0.99
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48226 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48226 (Detroit, MI) is $2,170 a month. That is up 2.4% from $2,120 in FY 2026. Detroit 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, 48226 has the 2nd-highest two-bedroom rent (county range $1,010–$2,220). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48226 is 100% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48226
BedroomsFY 2027Change90–110% range
Studio$1,560+2.6%$1,404–$1,716
1BR$1,740+3.0%$1,566–$1,914
2BR$2,170+2.4%$1,953–$2,387
3BR$2,640+1.9%$2,376–$2,904
4BR$2,870+2.1%$2,583–$3,157

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48226
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,560$1,740$2,170$2,640$2,870
FY 2026$1,520$1,690$2,120$2,590$2,810
FY 2025$1,490$1,640$2,070$2,540$2,740
FY 2024$1,380$1,530$1,940$2,400$2,580
FY 2023$1,270$1,430$1,820$2,270$2,440

Two-bedroom rent in nearby Wayne County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48226
48219$1,430−34.1%
48221$1,430−34.1%
48223$1,260−41.9%
48224$1,460−32.7%
48225$1,660−23.5%
48226Current$2,170—
48227$1,350−37.8%
48228$1,270−41.5%
48229$1,150−47.0%
48230$1,820−16.1%
48231$1,390−35.9%
48232$1,390−35.9%

Questions about ZIP 48226 rents

How much will Section 8 pay for a two-bedroom in ZIP 48226?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,170, that basic range is $1,953 to $2,387 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 48226 in?

ZIP 48226 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 48226 for FY 2027?

The two-bedroom FMR rose 2.4%, from $2,120 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has risen 19.2%.

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