FY2027 Small Area FMR · Oakley, MI

ZIP 48649 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 48649 (Oakley, MI) is $1,010 a month, up 4.1% from FY2026. That is 11% below the Saginaw, MI area-wide FMR of $1,141.

2-bedroom SAFMR$1,010per month ▲ 4.1%

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

Rank in the area26thof 33 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$710▲ 6.0%

1 BR$790▲ 6.8%

2 BR$1,010▲ 4.1%

3 BR$1,310▲ 4.0%

4 BR$1,420▲ 10.1%

FY2027 FY2026

Where 48649 sits in the Saginaw, MI area

Of the 33 ZIP codes HUD lists for the area, 48649 has the 26th 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 $1,010 for this ZIP code instead.

ZIP code 48649 crosses more than one HUD area. HUD also lists it under Shiawassee County, MI (same figures). The figure that applies depends on which side of the line the home is.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$710	$639 – $781	$795	$670
1 bedroom	$790	$711 – $869	$893	$740
2 bedrooms	$1,010	$909 – $1,111	$1,141	$970
3 bedrooms	$1,310	$1,179 – $1,441	$1,466	$1,260
4 bedrooms	$1,420	$1,278 – $1,562	$1,500	$1,290

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 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 48649 lies mainly in Saginaw County and Shiawassee 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
48841	Henderson	2.9 mi	$1,150
48616	Chesaning	5.9 mi	$1,010
48614	Brant	8.0 mi	$1,260
48831	Elsie	8.7 mi	$1,150
48807	Bannister	9.3 mi	$1,150
48867	Owosso	10.3 mi	$1,040

Questions

What is the Fair Market Rent for ZIP code 48649?

HUD's FY2027 Small Area Fair Market Rents for 48649 are $710 (studio), $790 (1 BR), $1,010 (2 BR), $1,310 (3 BR) and $1,420 (4 BR) a month.

What is the Section 8 payment standard in 48649?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 48649 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 48649?

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.