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Kalamazoo County/Otsego/49078

49078

ZIPSAFMR
Kalamazoo County, MI
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$1,090$1,090
1 BR$1,100$1,100
2 BR$1,430$1,430
3 BR$1,760$1,760
4 BR$2,060$2,060
5 BR$2,369Not available
6 BR$2,724Not available
7 BR$3,133Not available
8 BR$3,603Not available

Purchase Price Calculator

Maximum purchase price
$150,581

Cost breakdown

+Likely effective rent$1,430
HUD FMRUsed$1,430
Market rentN/A
Est. payment standardN/A
-Principal and interest-$761
Loan amount$120,465
Down payment$30,116
Rate6.50%
Term30 years
-Operating costs-$469
Property taxes-$151
Insurance-$175
Utilities$0
HOA$0
Management-$143
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,094(76.7% ROI)
Projected value
$162,159
Return breakdown
Property appreciation+$11,578
Loan principal paid down+$4,316
Rental cash flow+$7,200
5-year hold
+$39,484(131.1% ROI)
Projected value
$170,368
Return breakdown
Property appreciation+$19,788
Loan principal paid down+$7,697
Rental cash flow+$12,000
10-year hold
+$84,515(280.6% ROI)
Projected value
$192,756
Return breakdown
Property appreciation+$42,175
Loan principal paid down+$18,339
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 49078 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49078 (Otsego, MI) is $1,430 a month. That is up 1.4% from $1,410 in FY 2026. Otsego is in the Kalamazoo-Portage, 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 $1,158. Among 33 ZIP codes in Kalamazoo County, 49078 has the highest two-bedroom rent (county range $1,050–$1,430). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49078 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49078
BedroomsFY 2027Change90–110% range
Studio$1,090+1.9%$981–$1,199
1BR$1,100+1.9%$990–$1,210
2BR$1,430+1.4%$1,287–$1,573
3BR$1,760−0.6%$1,584–$1,936
4BR$2,060+5.1%$1,854–$2,266

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49078
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,100$1,430$1,760$2,060
FY 2026$1,070$1,080$1,410$1,770$1,960
FY 2025$960$980$1,270$1,630$1,720
FY 2024$780$950$1,140$1,520$1,600
FY 2023$750$870$1,070$1,410$1,540

Two-bedroom rent in nearby Kalamazoo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49078
49060$1,270−11.2%
49065$1,060−25.9%
49071$1,340−6.3%
49072$1,130−21.0%
49074$1,160−18.9%
49077$1,160−18.9%
49078Current$1,430—
49080$1,220−14.7%
49081$1,160−18.9%
49083$1,210−15.4%
49087$1,060−25.9%
49088$1,060−25.9%

Questions about ZIP 49078 rents

How much will Section 8 pay for a two-bedroom in ZIP 49078?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,158, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,042 to $1,274 a month; under the ZIP-level Small Area FMR of $1,430 it would be $1,287 to $1,573. 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 49078 in?

ZIP 49078 is in the Kalamazoo-Portage, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,158.

How much did fair market rent change in ZIP 49078 for FY 2027?

The two-bedroom FMR rose 1.4%, from $1,410 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 33.6%.

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