FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR
1.17ratio
FMR$900
Market$770
vs market+$130
FMR is above market; underwrite to market rent.
1.17
2 BR
2 BR
1.25ratio
FMR$1,090
Market$870
vs market+$220
FMR is above market; underwrite to market rent.
1.25
3 BR
3 BR
1.16ratio
FMR$1,340
Market$1,160
vs market+$180
FMR is above market; underwrite to market rent.
1.16
4 BR
4 BR
1.26ratio
FMR$1,550
Market$1,230
vs market+$320
FMR is above market; underwrite to market rent.
1.26
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
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ZIP 48502 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48502 (Flint, MI) is $1,090 a month. That is up 11.2% from $980 in FY 2026. Flint is in the Flint, MI MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,133. Among 39 ZIP codes in Genesee County, 48502 is tied for the 26th-highest two-bedroom rent (county range $1,010–$1,640).
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 48502
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$690
$760
+10.1%
$684–$836
1BR
$810
$900
+11.1%
$810–$990
2BR
$980
$1,090
+11.2%
$981–$1,199
3BR
$1,210
$1,340
+10.7%
$1,206–$1,474
4BR
$1,420
$1,550
+9.2%
$1,395–$1,705
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 48502
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$760
$900
$1,090
$1,340
$1,550
FY 2026
$690
$810
$980
$1,210
$1,420
FY 2025
$690
$800
$980
$1,210
$1,390
FY 2024
$740
$850
$1,060
$1,320
$1,440
FY 2023
$650
$750
$950
$1,190
$1,280
Two-bedroom rent in nearby Genesee County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 48502?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,133, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,020 to $1,246 a month; under the ZIP-level Small Area FMR of $1,090 it would be $981 to $1,199. 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 48502 in?
ZIP 48502 is in the Flint, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,133.
How much did fair market rent change in ZIP 48502 for FY 2027?
The two-bedroom FMR rose 11.2%, from $980 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 14.7%.
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