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Eaton County/Lansing/48917

48917

ZIPSAFMR
Eaton County, MI
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$820
1 BR$1,100$1,020
2 BR$1,380$1,230
3 BR$1,760$1,490
4 BR$1,810$1,990
5 BR$2,082Not available
6 BR$2,394Not available
7 BR$2,753Not available
8 BR$3,166Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,380
Market rentUsed$1,230
Est. payment standard (93%)$1,280
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.32
1 BR
1.08
2 BR
1.12
3 BR
1.18
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 48917 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 48917 (Lansing, MI) is $1,380 a month. That is up 6.2% from $1,300 in FY 2026. Lansing is in the Lansing-East Lansing, 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 $1,323. Among 21 ZIP codes in Eaton County, 48917 has the 2nd-highest two-bedroom rent (county range $1,150–$1,480). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48917 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48917
BedroomsFY 2027Change90–110% range
Studio$1,080+8.0%$972–$1,188
1BR$1,100+5.8%$990–$1,210
2BR$1,380+6.2%$1,242–$1,518
3BR$1,760+5.4%$1,584–$1,936
4BR$1,810+5.2%$1,629–$1,991

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48917
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,100$1,380$1,760$1,810
FY 2026$1,000$1,040$1,300$1,670$1,720
FY 2025$870$910$1,130$1,470$1,500
FY 2024$850$890$1,100$1,430$1,460
FY 2023$860$890$1,090$1,410$1,460

Two-bedroom rent in nearby Eaton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 48917
48827$1,250−9.4%
48837$1,270−8.0%
48842$1,480+7.2%
48849$1,210−12.3%
48861$1,310−5.1%
48876$1,290−6.5%
48890$1,300−5.8%
48897$1,210−12.3%
48906$1,350−2.2%
48908$1,310−5.1%
48911$1,210−12.3%
48917Current$1,380—

Questions about ZIP 48917 rents

How much will Section 8 pay for a two-bedroom in ZIP 48917?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,323, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,191 to $1,455 a month; under the ZIP-level Small Area FMR of $1,380 it would be $1,242 to $1,518. 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 48917 in?

ZIP 48917 is in the Lansing-East Lansing, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,323.

How much did fair market rent change in ZIP 48917 for FY 2027?

The two-bedroom FMR rose 6.2%, from $1,300 in FY 2026 to $1,380 in FY 2027. Since FY 2023 it has risen 26.6%.

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