Oakland County/Rochester/48307

48307

ZIPSAFMR

Oakland County, MI

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ZIP Investment Score

100Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,350	$1,270	4.6%
1 BR	$1,500	$1,530	4.6%
2 BR	$1,880	$1,770	4.2%
3 BR	$2,290	$2,450	3.8%
4 BR	$2,490	$2,740	4.1%
5 BR	$2,864	Not available	4.1%
6 BR	$3,293	Not available	4.1%
7 BR	$3,787	Not available	4.1%
8 BR	$4,355	Not available	4.1%

Purchase Price Calculator

Maximum purchase price

$201,105

Cost breakdown

+Likely effective rent$1,770

HUD FMR$1,880

Market rentUsed$1,770

Est. payment standard (96%)$1,810

-Principal and interest-$1,017

Loan amount$160,884

Down payment$40,221

Rate6.50%

Term30 years

-Operating costs-$553

Property taxes-$201

Insurance-$175

Utilities$0

HOA$0

Management-$177

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$28,427(70.7% ROI)

Projected value

$216,568

Return breakdown

Property appreciation+$15,463

Loan principal paid down+$5,764

Rental cash flow+$7,200

5-year hold

+$48,706(121.1% ROI)

Projected value

$227,532

Return breakdown

Property appreciation+$26,427

Loan principal paid down+$10,279

Rental cash flow+$12,000

10-year hold

+$104,819(260.6% ROI)

Projected value

$257,431

Return breakdown

Property appreciation+$56,326

Loan principal paid down+$24,493

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.06ratio

FMR$1,350

Market$1,270

vs market+$80

FMR is near market; voucher and private rents are aligned.

1.06

1 BR

0.97ratio

FMR$1,500

Market$1,550

vs market-$50

FMR is near market; voucher and private rents are aligned.

0.97

2 BR

1.06ratio

FMR$1,880

Market$1,770

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.06

3 BR

0.90ratio

FMR$2,290

Market$2,540

vs market-$250

FMR is near market; voucher and private rents are aligned.

0.90

4 BR

0.86ratio

FMR$2,490

Market$2,890

vs market-$400

FMR is below market; voucher rent may lag private rents.

0.86

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: --

ZIP 48307 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48307 (Rochester, MI) is $1,880 a month. That is up 3.9% from $1,810 in FY 2026. Rochester 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 93 ZIP codes in Oakland County, 48307 is tied for the 20th-highest two-bedroom rent (county range $1,100–$2,190). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48307 is 73% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48307
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,290	$1,350	+4.7%	$1,215–$1,485
1BR	$1,440	$1,500	+4.2%	$1,350–$1,650
2BR	$1,810	$1,880	+3.9%	$1,692–$2,068
3BR	$2,210	$2,290	+3.6%	$2,061–$2,519
4BR	$2,400	$2,490	+3.8%	$2,241–$2,739

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48307
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,350	$1,500	$1,880	$2,290	$2,490
FY 2026	$1,290	$1,440	$1,810	$2,210	$2,400
FY 2025	$1,240	$1,370	$1,730	$2,120	$2,290
FY 2024	$1,180	$1,310	$1,660	$2,050	$2,210
FY 2023	$1,090	$1,220	$1,560	$1,940	$2,100

Two-bedroom rent in nearby Oakland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 48307
48301	$2,190	+16.5%
48302	$2,190	+16.5%
48303	$1,630	−13.3%
48304	$1,850	−1.6%
48306	$1,690	−10.1%
48307Current	$1,880	—
48308	$1,630	−13.3%
48309	$1,880	0.0%
48316	$1,640	−12.8%
48317	$1,580	−16.0%
48320	$1,460	−22.3%
48321	$1,630	−13.3%

Questions about ZIP 48307 rents

How much will Section 8 pay for a two-bedroom in ZIP 48307?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,880, that basic range is $1,692 to $2,068 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 48307 in?

ZIP 48307 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 48307 for FY 2027?

The two-bedroom FMR rose 3.9%, from $1,810 in FY 2026 to $1,880 in FY 2027. Since FY 2023 it has risen 20.5%.

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 rent Rochester, MI fair market rent MI statewide rents What is SAFMR?Data sources