FY2027 Small Area FMR · Midland, MI

ZIP 48640 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 48640 (Midland, MI) is $1,150 a month, up 0.9% from FY2026. That is 5% below the Midland, MI area-wide FMR of $1,205.

2-bedroom SAFMR$1,150per month ▲ 0.9%

Area-wide 2 BR FMR$1,205Midland, MI

Rank in the area8thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,035

2 BR Small Area FMR$1,150

110% of SAFMR$1,265

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

Studio$880▲ 1.1%

1 BR$890▲ 1.1%

2 BR$1,150▲ 0.9%

3 BR$1,430▼ 1.4%

4 BR$1,710▲ 6.2%

FY2027 FY2026

Where 48640 sits in the Midland, MI area

Of the 18 ZIP codes HUD lists for the area, 48640 has the 8th highest two-bedroom Small Area FMR. Midland, 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 $1,205 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,150 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	$880	$792 – $968	$920	$870
1 bedroom	$890	$801 – $979	$936	$880
2 bedrooms	$1,150	$1,035 – $1,265	$1,205	$1,140
3 bedrooms	$1,430	$1,287 – $1,573	$1,498	$1,450
4 bedrooms	$1,710	$1,539 – $1,881	$1,790	$1,610

A household renting a two-bedroom home at the Small Area FMR of $1,150 needs about $46,000 a year to keep housing costs at 30% of income. The area median family income is $107,200 and the 80% low-income limit for four people is $85,750. ZIP code 48640 lies mainly in Midland County. See the Midland, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
48657	Sanford	9.4 mi	$1,150
48642	Midland	10.4 mi	$1,360
48623	Freeland	11.1 mi	$1,400
48637	Merrill	11.6 mi	$1,080
48611	Auburn	12.5 mi	$1,050
48626	Hemlock	12.5 mi	$1,180

Questions

What is the Fair Market Rent for ZIP code 48640?

HUD's FY2027 Small Area Fair Market Rents for 48640 are $880 (studio), $890 (1 BR), $1,150 (2 BR), $1,430 (3 BR) and $1,710 (4 BR) a month.

What is the Section 8 payment standard in 48640?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 48640 that range is $1,035 to $1,265 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 48640?

The FY2026 income limits of the Midland, MI area apply: median family income $107,200, low-income (80%) limit $85,750 for a family of four.