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St. Joseph County/Vicksburg/49097

49097

ZIPSAFMR
St. Joseph County, MI
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$790$870
1 BR$900$990
2 BR$1,050$1,160
3 BR$1,380$1,520
4 BR$1,460$1,610
5 BR$1,679Not available
6 BR$1,931Not available
7 BR$2,220Not available
8 BR$2,554Not available

Purchase Price Calculator

Maximum purchase price
$110,459

Cost breakdown

+Likely effective rent$1,160
HUD FMR$1,050
Market rent$1,850
Est. payment standard (110%)Used$1,160
-Principal and interest-$559
Loan amount$88,367
Down payment$22,092
Rate6.50%
Term30 years
-Operating costs-$401
Property taxes-$110
Insurance-$175
Utilities$0
HOA$0
Management-$116
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,859(85.4% ROI)
Projected value
$118,952
Return breakdown
Property appreciation+$8,493
Loan principal paid down+$3,166
Rental cash flow+$7,200
5-year hold
+$32,161(145.6% ROI)
Projected value
$124,974
Return breakdown
Property appreciation+$14,515
Loan principal paid down+$5,646
Rental cash flow+$12,000
10-year hold
+$68,391(309.6% ROI)
Projected value
$141,397
Return breakdown
Property appreciation+$30,938
Loan principal paid down+$13,453
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.59
1 BR
0.75
2 BR
0.57
3 BR
0.68
4 BR
0.69
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49097 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49097 (Vicksburg, MI) is $1,050 a month. That is down 1.9% from $1,070 in FY 2026. Vicksburg 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, 49097 has the 11th-highest two-bedroom rent (county range $1,010–$1,210). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49097 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49097
BedroomsFY 2027Change90–110% range
Studio$790+5.3%$711–$869
1BR$9000.0%$810–$990
2BR$1,050−1.9%$945–$1,155
3BR$1,380−2.1%$1,242–$1,518
4BR$1,460−3.3%$1,314–$1,606

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49097
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$790$900$1,050$1,380$1,460
FY 2026$750$900$1,070$1,410$1,510
FY 2025$680$810$970$1,280$1,370
FY 2024$660$770$950$1,250$1,360
FY 2023$630$730$900$1,190$1,290

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49097
49040$1,020−2.9%
49042$1,020−2.9%
49052$1,060+1.0%
49066$1,180+12.4%
49067$1,090+3.8%
49072$1,130+7.6%
49075$1,080+2.9%
49087$1,060+1.0%
49091$1,080+2.9%
49093$1,030−1.9%
49097Current$1,050—
49099$1,120+6.7%

Questions about ZIP 49097 rents

How much will Section 8 pay for a two-bedroom in ZIP 49097?

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 $1,050 it would be $945 to $1,155. 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 49097 in?

ZIP 49097 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 49097 for FY 2027?

The two-bedroom FMR fell 1.9%, from $1,070 in FY 2026 to $1,050 in FY 2027. Since FY 2023 it has risen 16.7%.

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