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Clinton County/Lansing/48951

48951

ZIPFMR
Clinton County, MI
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,036$950
1 BR$1,054$1,120
2 BR$1,323$1,230
3 BR$1,685$1,440
4 BR$1,739$1,510
5 BR$2,000Not available
6 BR$2,300Not available
7 BR$2,645Not available
8 BR$3,042Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,323
Market rentUsed$1,230
Est. payment standard (95%)$1,260
-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
1.09
1 BR
0.91
2 BR
1.08
3 BR
1.17
4 BR
1.15
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 48951 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 48951 (Lansing, MI) is $1,323 a month. That is up 4.3% from $1,268 in FY 2026. Lansing is in the Lansing-East Lansing, MI MSA. The median county two-bedroom FMR in Michigan is $1,085, so ZIP 48951 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 48951
BedroomsFY 2027Change90–110% range
Studio$1,036+6.5%$932–$1,140
1BR$1,054+4.2%$949–$1,159
2BR$1,323+4.3%$1,191–$1,455
3BR$1,685+3.6%$1,517–$1,854
4BR$1,739+3.6%$1,565–$1,913

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 48951
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,036$1,054$1,323$1,685$1,739
FY 2026$973$1,012$1,268$1,627$1,679
FY 2025$870$905$1,127$1,465$1,494
FY 2024$847$887$1,092$1,423$1,454
FY 2023$837$868$1,063$1,374$1,428

Questions about ZIP 48951 rents

How much will Section 8 pay for a two-bedroom in ZIP 48951?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,323, that basic range is $1,191 to $1,455 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 48951 in?

ZIP 48951 is in the Lansing-East Lansing, MI MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 48951 for FY 2027?

The two-bedroom FMR rose 4.3%, from $1,268 in FY 2026 to $1,323 in FY 2027. Since FY 2023 it has risen 24.5%.

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