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Oakland County/Farmington/48335

48335

ZIPSAFMR
Oakland County, MI
Zillow

ZIP Investment Score

97Above average

095130300
BRFMR
Eff. Rent
0 BR$1,420$1,300
1 BR$1,580$1,240
2 BR$1,980$1,850
3 BR$2,410$2,420
4 BR$2,620$2,880
5 BR$3,013Not available
6 BR$3,465Not available
7 BR$3,985Not available
8 BR$4,582Not available

Purchase Price Calculator

Maximum purchase price
$212,993

Cost breakdown

+Likely effective rent$1,850
HUD FMR$1,980
Market rentUsed$1,850
Est. payment standard (96%)$1,900
-Principal and interest-$1,077
Loan amount$170,394
Down payment$42,599
Rate6.50%
Term30 years
-Operating costs-$573
Property taxes-$213
Insurance-$175
Utilities$0
HOA$0
Management-$185
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,682(69.7% ROI)
Projected value
$229,370
Return breakdown
Property appreciation+$16,377
Loan principal paid down+$6,105
Rental cash flow+$7,200
5-year hold
+$50,876(119.4% ROI)
Projected value
$240,982
Return breakdown
Property appreciation+$27,989
Loan principal paid down+$10,887
Rental cash flow+$12,000
10-year hold
+$109,597(257.3% ROI)
Projected value
$272,649
Return breakdown
Property appreciation+$59,656
Loan principal paid down+$25,941
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.09
1 BR
1.27
2 BR
1.07
3 BR
0.99
4 BR
0.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48335 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48335 (Farmington, MI) is $1,980 a month. That is up 4.8% from $1,890 in FY 2026. Farmington 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, 48335 has the 16th-highest two-bedroom rent (county range $1,100–$2,190). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48335 is 82% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48335
BedroomsFY 2027Change90–110% range
Studio$1,420+5.2%$1,278–$1,562
1BR$1,580+5.3%$1,422–$1,738
2BR$1,980+4.8%$1,782–$2,178
3BR$2,410+4.3%$2,169–$2,651
4BR$2,620+4.8%$2,358–$2,882

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48335
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,420$1,580$1,980$2,410$2,620
FY 2026$1,350$1,500$1,890$2,310$2,500
FY 2025$1,320$1,450$1,830$2,240$2,430
FY 2024$1,240$1,370$1,740$2,150$2,320
FY 2023$1,140$1,290$1,640$2,040$2,200

Two-bedroom rent in nearby Oakland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48335
48328$1,300−34.3%
48329$1,650−16.7%
48330$1,630−17.7%
48331$2,180+10.1%
48332$1,630−17.7%
48333$1,630−17.7%
48334$1,910−3.5%
48335Current$1,980—
48336$1,430−27.8%
48340$1,390−29.8%
48341$1,160−41.4%
48342$1,320−33.3%

Questions about ZIP 48335 rents

How much will Section 8 pay for a two-bedroom in ZIP 48335?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,980, that basic range is $1,782 to $2,178 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 48335 in?

ZIP 48335 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 48335 for FY 2027?

The two-bedroom FMR rose 4.8%, from $1,890 in FY 2026 to $1,980 in FY 2027. Since FY 2023 it has risen 20.7%.

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