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Berrien County/Coloma/49038

49038

ZIPSAFMR
Berrien County, MI
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$780$860
1 BR$860$950
2 BR$1,120$1,230
3 BR$1,470$1,620
4 BR$1,470$1,620
5 BR$1,690Not available
6 BR$1,944Not available
7 BR$2,236Not available
8 BR$2,571Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,120
Market rent$1,380
Est. payment standard (110%)Used$1,230
-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
0.54
1 BR
0.70
2 BR
0.81
3 BR
0.73
4 BR
0.67
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49038 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49038 (Coloma, MI) is $1,120 a month. That is down 1.8% from $1,140 in FY 2026. Coloma is in the Niles, 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 $1,152. Among 26 ZIP codes in Berrien County, 49038 is tied for the 13th-highest two-bedroom rent (county range $1,070–$1,450). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49038 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49038
BedroomsFY 2027Change90–110% range
Studio$780−1.3%$702–$858
1BR$860−1.1%$774–$946
2BR$1,120−1.8%$1,008–$1,232
3BR$1,470−2.0%$1,323–$1,617
4BR$1,470−3.3%$1,323–$1,617

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49038
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$780$860$1,120$1,470$1,470
FY 2026$790$870$1,140$1,500$1,520
FY 2025$780$860$1,130$1,460$1,500
FY 2024$720$810$1,060$1,360$1,420
FY 2023$740$750$980$1,260$1,400

Two-bedroom rent in nearby Berrien County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49038
49022$1,080−3.6%
49023$1,150+2.7%
49038Current$1,120—
49043$1,140+1.8%
49047$1,070−4.5%
49084$1,080−3.6%
49085$1,330+18.8%
49098$1,450+29.5%
49101$1,210+8.0%
49102$1,220+8.9%
49103$1,090−2.7%
49104$1,090−2.7%

Questions about ZIP 49038 rents

How much will Section 8 pay for a two-bedroom in ZIP 49038?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,152, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,037 to $1,267 a month; under the ZIP-level Small Area FMR of $1,120 it would be $1,008 to $1,232. 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 49038 in?

ZIP 49038 is in the Niles, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,152.

How much did fair market rent change in ZIP 49038 for FY 2027?

The two-bedroom FMR fell 1.8%, from $1,140 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 14.3%.

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