FY2027 Small Area FMR · Ovid, MI

ZIP 48866 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 48866 (Ovid, MI) is $1,150 a month, up 12.7% from FY2026. That is 13% below the Lansing-East Lansing, MI area-wide FMR of $1,323.

2-bedroom SAFMR$1,150per month ▲ 12.7%

Area-wide 2 BR FMR$1,323Lansing-East Lansing, MI

Rank in the area46thof 58 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▲ 11.4%

1 BR$920▲ 12.2%

2 BR$1,150▲ 12.7%

3 BR$1,470▲ 11.4%

4 BR$1,520▲ 8.6%

FY2027 FY2026

Where 48866 sits in the Lansing-East Lansing, MI area

Of the 58 ZIP codes HUD lists for the area, 48866 has the 46th highest two-bedroom Small Area FMR. Lansing-East Lansing, 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 $1,323 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,150 for this ZIP code instead.

ZIP code 48866 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	$880	$792 – $968	$1,036	$790
1 bedroom	$920	$828 – $1,012	$1,054	$820
2 bedrooms	$1,150	$1,035 – $1,265	$1,323	$1,020
3 bedrooms	$1,470	$1,323 – $1,617	$1,685	$1,320
4 bedrooms	$1,520	$1,368 – $1,672	$1,739	$1,400

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 $102,600 and the 80% low-income limit for four people is $82,100. ZIP code 48866 lies mainly in Clinton County and Shiawassee County. See the Lansing-East Lansing, MI metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
48831	Elsie	6.8 mi	$1,150
48848	Laingsburg	7.7 mi	$1,150
48867	Owosso	9.5 mi	$1,040
48879	Saint Johns	10.2 mi	$1,150
48841	Henderson	10.5 mi	$1,150
48807	Bannister	10.6 mi	$1,150

Questions

What is the Fair Market Rent for ZIP code 48866?

HUD's FY2027 Small Area Fair Market Rents for 48866 are $880 (studio), $920 (1 BR), $1,150 (2 BR), $1,470 (3 BR) and $1,520 (4 BR) a month.

What is the Section 8 payment standard in 48866?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 48866 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 48866?

The FY2026 income limits of the Lansing-East Lansing, MI area apply: median family income $102,600, low-income (80%) limit $82,100 for a family of four.