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Barry County/Shelbyville/49344

49344

ZIPSAFMR
Barry County, MI
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,210
1 BR$1,210$1,210
2 BR$1,590$1,590
3 BR$1,960$1,960
4 BR$2,330$2,330
5 BR$2,680Not available
6 BR$3,081Not available
7 BR$3,544Not available
8 BR$4,075Not available

Purchase Price Calculator

Maximum purchase price
$174,357

Cost breakdown

+Likely effective rent$1,590
HUD FMRUsed$1,590
Market rentN/A
Est. payment standardN/A
-Principal and interest-$882
Loan amount$139,485
Down payment$34,871
Rate6.50%
Term30 years
-Operating costs-$508
Property taxes-$174
Insurance-$175
Utilities$0
HOA$0
Management-$159
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,604(73.4% ROI)
Projected value
$187,763
Return breakdown
Property appreciation+$13,406
Loan principal paid down+$4,997
Rental cash flow+$7,200
5-year hold
+$43,824(125.7% ROI)
Projected value
$197,269
Return breakdown
Property appreciation+$22,912
Loan principal paid down+$8,912
Rental cash flow+$12,000
10-year hold
+$94,070(269.8% ROI)
Projected value
$223,192
Return breakdown
Property appreciation+$48,835
Loan principal paid down+$21,235
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 49344 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49344 (Shelbyville, MI) is $1,590 a month. That is up 6.7% from $1,490 in FY 2026. Shelbyville is in the Barry County, MI HUD Metro 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 metro-wide two-bedroom FMR of $1,362. Among 18 ZIP codes in Barry County, 49344 has the 2nd-highest two-bedroom rent (county range $1,210–$1,810). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49344 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49344
BedroomsFY 2027Change90–110% range
Studio$1,210+7.1%$1,089–$1,331
1BR$1,210+6.1%$1,089–$1,331
2BR$1,590+6.7%$1,431–$1,749
3BR$1,960+3.2%$1,764–$2,156
4BR$2,330+7.9%$2,097–$2,563

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49344
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,210$1,590$1,960$2,330
FY 2026$1,130$1,140$1,490$1,900$2,160
FY 2025$850$880$1,160$1,510$1,610
FY 2024area FMR$690$810$1,018$1,435$1,483
FY 2023area FMR$605$736$905$1,269$1,298

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Barry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49344
49046$1,540−3.1%
49050$1,210−23.9%
49058$1,340−15.7%
49060$1,270−20.1%
49073$1,210−23.9%
49080$1,220−23.3%
49083$1,210−23.9%
49316$1,810+13.8%
49325$1,380−13.2%
49333$1,560−1.9%
49344Current$1,590—
49348$1,400−11.9%

Questions about ZIP 49344 rents

How much will Section 8 pay for a two-bedroom in ZIP 49344?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,362, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,226 to $1,498 a month; under the ZIP-level Small Area FMR of $1,590 it would be $1,431 to $1,749. 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 49344 in?

ZIP 49344 is in the Barry County, MI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,362.

How much did fair market rent change in ZIP 49344 for FY 2027?

The two-bedroom FMR rose 6.7%, from $1,490 in FY 2026 to $1,590 in FY 2027. Since FY 2025 it has risen 37.1%.

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