ZIP 48840 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 48840 in the Lansing-East Lansing, MI MSA FMR area.

Lansing-East Lansing, MI MSA

$1,020Efficiency
$1,0401 bedroom
$1,3102 bedrooms
$1,6703 bedrooms
$1,7304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,020$918$1,122$1,036
1 bedroom$1,040$936$1,144$1,054
2 bedrooms$1,310$1,179$1,441$1,323
3 bedrooms$1,670$1,503$1,837$1,685
4 bedrooms$1,730$1,557$1,903$1,739

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Shiawassee County, MI

$1,020Efficiency
$1,0401 bedroom
$1,3102 bedrooms
$1,6703 bedrooms
$1,7304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,020$918$1,122$798
1 bedroom$1,040$936$1,144$829
2 bedrooms$1,310$1,179$1,441$1,085
3 bedrooms$1,670$1,503$1,837$1,457
4 bedrooms$1,730$1,557$1,903$1,644

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 48840

$90,085average adjusted gross income per tax return (2022)
$58,377average salaries and wages per return
6,440tax returns filed
17%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00025.0%
$25,000 to $50,00020.5%
$50,000 to $75,00014.8%
$75,000 to $100,00010.9%
$100,000 to $200,00020.2%
$200,000 or more8.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 48840?

HUD's FY2027 Small Area FMRs for ZIP 48840 (Lansing-East Lansing, MI MSA) are $1,020 efficiency, $1,040 one bedroom, $1,310 two bedrooms, $1,670 three and $1,730 four bedrooms.

What payment standard can a housing authority set in ZIP 48840?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,179 to $1,441.

How affordable is rent in ZIP 48840?

Tax returns filed from ZIP 48840 reported an average adjusted gross income of $90,085 (2022). A two-bedroom unit at the Small Area FMR costs $15,720 a year, or 17% of that income.