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Oakland County/West Bloomfield/48324

48324

ZIPSAFMR
Oakland County, MI
Zillow

ZIP Investment Score

105Above average

095130300
BRFMR
Eff. Rent
0 BR$1,300$1,180
1 BR$1,450$1,530
2 BR$1,810$1,890
3 BR$2,200$2,400
4 BR$2,390$2,630
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$218,937

Cost breakdown

+Likely effective rent$1,890
HUD FMR$1,810
Market rent$1,930
Est. payment standard (104%)Used$1,890
-Principal and interest-$1,107
Loan amount$175,149
Down payment$43,787
Rate6.50%
Term30 years
-Operating costs-$583
Property taxes-$219
Insurance-$175
Utilities$0
HOA$0
Management-$189
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,309(69.2% ROI)
Projected value
$235,771
Return breakdown
Property appreciation+$16,834
Loan principal paid down+$6,275
Rental cash flow+$7,200
5-year hold
+$51,960(118.7% ROI)
Projected value
$247,707
Return breakdown
Property appreciation+$28,770
Loan principal paid down+$11,190
Rental cash flow+$12,000
10-year hold
+$111,985(255.7% ROI)
Projected value
$280,258
Return breakdown
Property appreciation+$61,321
Loan principal paid down+$26,665
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
0.92
2 BR
0.94
3 BR
0.88
4 BR
0.76
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48324 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48324 (West Bloomfield, MI) is $1,810 a month. That is up 3.4% from $1,750 in FY 2026. West Bloomfield 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, 48324 is tied for the 24th-highest two-bedroom rent (county range $1,100–$2,190). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48324 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48324
BedroomsFY 2027Change90–110% range
Studio$1,300+4.0%$1,170–$1,430
1BR$1,450+4.3%$1,305–$1,595
2BR$1,810+3.4%$1,629–$1,991
3BR$2,200+2.8%$1,980–$2,420
4BR$2,390+3.0%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48324
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,300$1,450$1,810$2,200$2,390
FY 2026$1,250$1,390$1,750$2,140$2,320
FY 2025$1,220$1,340$1,690$2,070$2,240
FY 2024$1,150$1,270$1,610$1,990$2,140
FY 2023$1,080$1,220$1,550$1,930$2,080

Two-bedroom rent in nearby Oakland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48324
48317$1,580−12.7%
48320$1,460−19.3%
48321$1,630−9.9%
48322$2,190+21.0%
48323$2,040+12.7%
48324Current$1,810—
48325$1,630−9.9%
48326$1,730−4.4%
48327$1,310−27.6%
48328$1,300−28.2%
48329$1,650−8.8%
48330$1,630−9.9%

Questions about ZIP 48324 rents

How much will Section 8 pay for a two-bedroom in ZIP 48324?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,810, that basic range is $1,629 to $1,991 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 48324 in?

ZIP 48324 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 48324 for FY 2027?

The two-bedroom FMR rose 3.4%, from $1,750 in FY 2026 to $1,810 in FY 2027. Since FY 2023 it has risen 16.8%.

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