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St. Joseph County/Mendon/49072

49072

ZIPSAFMR
St. Joseph County, MI
Zillow

ZIP Investment Score

101Above average

095130300
BRFMR
Eff. Rent
0 BR$810$810
1 BR$900$900
2 BR$1,130$1,130
3 BR$1,490$1,490
4 BR$1,580$1,580
5 BR$1,817Not available
6 BR$2,090Not available
7 BR$2,403Not available
8 BR$2,763Not available

Purchase Price Calculator

Maximum purchase price
$106,001

Cost breakdown

+Likely effective rent$1,130
HUD FMRUsed$1,130
Market rentN/A
Est. payment standardN/A
-Principal and interest-$536
Loan amount$84,801
Down payment$21,200
Rate6.50%
Term30 years
-Operating costs-$394
Property taxes-$106
Insurance-$175
Utilities$0
HOA$0
Management-$113
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,389(86.7% ROI)
Projected value
$114,152
Return breakdown
Property appreciation+$8,150
Loan principal paid down+$3,038
Rental cash flow+$7,200
5-year hold
+$31,347(147.9% ROI)
Projected value
$119,930
Return breakdown
Property appreciation+$13,929
Loan principal paid down+$5,418
Rental cash flow+$12,000
10-year hold
+$66,599(314.1% ROI)
Projected value
$135,690
Return breakdown
Property appreciation+$29,689
Loan principal paid down+$12,910
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 49072 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49072 (Mendon, MI) is $1,130 a month. That is up 3.7% from $1,090 in FY 2026. Mendon is in the St. Joseph County, MI non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,046. Among 15 ZIP codes in St. Joseph County, 49072 has the 4th-highest two-bedroom rent (county range $1,010–$1,210). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49072 is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49072
BedroomsFY 2027Change90–110% range
Studio$810+5.2%$729–$891
1BR$9000.0%$810–$990
2BR$1,130+3.7%$1,017–$1,243
3BR$1,490+0.7%$1,341–$1,639
4BR$1,5800.0%$1,422–$1,738

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49072
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$810$900$1,130$1,490$1,580
FY 2026$770$900$1,090$1,480$1,580
FY 2025$700$800$1,000$1,370$1,480
FY 2024$710$860$1,030$1,380$1,450
FY 2023$730$860$1,050$1,380$1,510

Two-bedroom rent in nearby St. Joseph County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49072
49040$1,020−9.7%
49042$1,020−9.7%
49052$1,060−6.2%
49066$1,180+4.4%
49067$1,090−3.5%
49072Current$1,130—
49075$1,080−4.4%
49087$1,060−6.2%
49091$1,080−4.4%
49093$1,030−8.8%
49097$1,050−7.1%
49099$1,120−0.9%

Questions about ZIP 49072 rents

How much will Section 8 pay for a two-bedroom in ZIP 49072?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,046, which applies unless the housing authority uses Small Area FMRs, that basic range is $941 to $1,151 a month; under the ZIP-level Small Area FMR of $1,130 it would be $1,017 to $1,243. 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 49072 in?

ZIP 49072 is in the St. Joseph County, MI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,046.

How much did fair market rent change in ZIP 49072 for FY 2027?

The two-bedroom FMR rose 3.7%, from $1,090 in FY 2026 to $1,130 in FY 2027. Since FY 2023 it has risen 7.6%.

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