FY2027 Small Area FMR · Watervliet, MI
ZIP 49098 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49098 (Watervliet, MI) is $1,450 a month, up 3.6% from FY2026. That is 26% above the Niles, MI area-wide FMR of $1,152.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 49098 sits in the Niles, MI area
Of the 26 ZIP codes HUD lists for the area, 49098 has the 1st highest two-bedroom Small Area FMR. Niles, 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 $1,152 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,450 for this ZIP code instead.
ZIP code 49098 crosses more than one HUD area. HUD also lists it under Van Buren County, MI (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,010 | $909 – $1,111 | $802 | $970 |
| 1 bedroom | $1,110 | $999 – $1,221 | $887 | $1,070 |
| 2 bedrooms | $1,450 | $1,305 – $1,595 | $1,152 | $1,400 |
| 3 bedrooms | $1,900 | $1,710 – $2,090 | $1,512 | $1,840 |
| 4 bedrooms | $1,900 | $1,710 – $2,090 | $1,514 | $1,860 |
A household renting a two-bedroom home at the Small Area FMR of $1,450 needs about $58,000 a year to keep housing costs at 30% of income. The area median family income is $92,200 and the 80% low-income limit for four people is $73,750. ZIP code 49098 lies mainly in Berrien County and Van Buren County. See the Niles, MI county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 49098?
HUD's FY2027 Small Area Fair Market Rents for 49098 are $1,010 (studio), $1,110 (1 BR), $1,450 (2 BR), $1,900 (3 BR) and $1,900 (4 BR) a month.
What is the Section 8 payment standard in 49098?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49098 that range is $1,305 to $1,595 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 49098?
The FY2026 income limits of the Niles, MI area apply: median family income $92,200, low-income (80%) limit $73,750 for a family of four.