FY2027 Small Area FMR · Saginaw, MI

ZIP 48638 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 48638 (Saginaw, MI) is $1,140 a month, up 0.9% from FY2026. That is 0% equal to the Saginaw, MI area-wide FMR of $1,141.

2-bedroom SAFMR$1,140per month ▲ 0.9%

Area-wide 2 BR FMR$1,141Saginaw, MI

Rank in the area15thof 33 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,026

2 BR Small Area FMR$1,140

110% of SAFMR$1,254

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$790▲ 1.3%

1 BR$890▲ 3.5%

2 BR$1,140▲ 0.9%

3 BR$1,460■ 0.0%

4 BR$1,500■ 0.0%

FY2027 FY2026

Where 48638 sits in the Saginaw, MI area

Of the 33 ZIP codes HUD lists for the area, 48638 has the 15th highest two-bedroom Small Area FMR. Saginaw, MI is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,141 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,140 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$790	$711 – $869	$795	$780
1 bedroom	$890	$801 – $979	$893	$860
2 bedrooms	$1,140	$1,026 – $1,254	$1,141	$1,130
3 bedrooms	$1,460	$1,314 – $1,606	$1,466	$1,460
4 bedrooms	$1,500	$1,350 – $1,650	$1,500	$1,500

A household renting a two-bedroom home at the Small Area FMR of $1,140 needs about $45,600 a year to keep housing costs at 30% of income. The area median family income is $83,200 and the 80% low-income limit for four people is $66,900. ZIP code 48638 lies mainly in Saginaw County. See the Saginaw, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
48602	Saginaw	2.2 mi	$1,120
48603	Saginaw	2.8 mi	$1,250
48609	Saginaw	3.8 mi	$1,100
48607	Saginaw	4.3 mi	$1,220
48724	Carrollton	5.2 mi	$1,210
48604	Saginaw	6.1 mi	$1,260

Questions

What is the Fair Market Rent for ZIP code 48638?

HUD's FY2027 Small Area Fair Market Rents for 48638 are $790 (studio), $890 (1 BR), $1,140 (2 BR), $1,460 (3 BR) and $1,500 (4 BR) a month.

What is the Section 8 payment standard in 48638?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 48638 that range is $1,026 to $1,254 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 48638?

The FY2026 income limits of the Saginaw, MI area apply: median family income $83,200, low-income (80%) limit $66,900 for a family of four.