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Midland County/Midland/48674

48674

ZIPFMR
Midland County, MI
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$920$860
1 BR$936$920
2 BR$1,205$1,110
3 BR$1,498$1,540
4 BR$1,790$1,940
5 BR$2,059Not available
6 BR$2,367Not available
7 BR$2,722Not available
8 BR$3,131Not available

Purchase Price Calculator

Maximum purchase price
$103,029

Cost breakdown

+Likely effective rent$1,110
HUD FMR$1,205
Market rentUsed$1,110
Est. payment standard (95%)$1,140
-Principal and interest-$521
Loan amount$82,423
Down payment$20,606
Rate6.50%
Term30 years
-Operating costs-$389
Property taxes-$103
Insurance-$175
Utilities$0
HOA$0
Management-$111
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,075(87.7% ROI)
Projected value
$110,951
Return breakdown
Property appreciation+$7,922
Loan principal paid down+$2,953
Rental cash flow+$7,200
5-year hold
+$30,805(149.5% ROI)
Projected value
$116,568
Return breakdown
Property appreciation+$13,539
Loan principal paid down+$5,266
Rental cash flow+$12,000
10-year hold
+$65,405(317.4% ROI)
Projected value
$131,886
Return breakdown
Property appreciation+$28,857
Loan principal paid down+$12,548
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.02
2 BR
1.09
3 BR
0.96
4 BR
0.89
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 48674 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 48674 (Midland, MI) is $1,205 a month. That is up 1.0% from $1,193 in FY 2026. Midland is in the Midland, MI MSA. The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48674 is 11% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48674
BedroomsFY 2027Change90–110% range
Studio$920+1.4%$828–$1,012
1BR$936+1.2%$842–$1,030
2BR$1,205+1.0%$1,085–$1,326
3BR$1,498−1.3%$1,348–$1,648
4BR$1,790+6.4%$1,611–$1,969

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48674
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$936$1,205$1,498$1,790
FY 2026$907$925$1,193$1,518$1,682
FY 2025$870$872$1,137$1,472$1,529
FY 2024$814$820$1,074$1,409$1,439
FY 2023$715$746$978$1,313$1,399

Questions about ZIP 48674 rents

How much will Section 8 pay for a two-bedroom in ZIP 48674?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,205, that basic range is $1,085 to $1,326 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 48674 in?

ZIP 48674 is in the Midland, MI MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 48674 for FY 2027?

The two-bedroom FMR rose 1.0%, from $1,193 in FY 2026 to $1,205 in FY 2027. Since FY 2023 it has risen 23.2%.

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 Fair Market Rents. 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 rentMidland, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources