FY2027 Small Area FMR · Gaastra, MI

ZIP 49927 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49927 (Gaastra, MI) is $1,170 a month, up 6.4% from FY2026. That is 3% above the Iron County, MI area-wide FMR of $1,132.

2-bedroom SAFMR$1,170per month ▲ 6.4%

Area-wide 2 BR FMR$1,132Iron County, MI

Rank in the area3rdof 9 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,053

2 BR Small Area FMR$1,170

110% of SAFMR$1,287

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

Studio$830▲ 6.4%

1 BR$890▲ 6.0%

2 BR$1,170▲ 6.4%

3 BR$1,400▲ 6.1%

4 BR$1,540▲ 4.8%

FY2027 FY2026

Where 49927 sits in the Iron County, MI area

Of the 9 ZIP codes HUD lists for the area, 49927 has the 3rd highest two-bedroom Small Area FMR. Iron County, 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 $1,132 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,170 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	$830	$747 – $913	$808	$780
1 bedroom	$890	$801 – $979	$865	$840
2 bedrooms	$1,170	$1,053 – $1,287	$1,132	$1,100
3 bedrooms	$1,400	$1,260 – $1,540	$1,349	$1,320
4 bedrooms	$1,540	$1,386 – $1,694	$1,488	$1,470

A household renting a two-bedroom home at the Small Area FMR of $1,170 needs about $46,800 a year to keep housing costs at 30% of income. The area median family income is $75,300 and the 80% low-income limit for four people is $66,900. ZIP code 49927 lies mainly in Iron County. See the Iron County, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
49915	Caspian	4.2 mi	$1,050
49902	Alpha	8.0 mi	$1,010
54542	Long Lake	11.2 mi	$1,110
49920	Crystal Falls	13.8 mi	$1,160
49935	Iron River	13.9 mi	$1,180
54121	Florence	15.7 mi	$1,170

Questions

What is the Fair Market Rent for ZIP code 49927?

HUD's FY2027 Small Area Fair Market Rents for 49927 are $830 (studio), $890 (1 BR), $1,170 (2 BR), $1,400 (3 BR) and $1,540 (4 BR) a month.

What is the Section 8 payment standard in 49927?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49927 that range is $1,053 to $1,287 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49927?

The FY2026 income limits of the Iron County, MI area apply: median family income $75,300, low-income (80%) limit $66,900 for a family of four.