The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

South Lyon, MI 48178's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 48178 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $936 to a high of $1,144, with an average of $1,040.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,008, a maximum of $1,232, and an average of $1,120.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,251, peaking at a maximum of $1,529, and averaging at $1,390.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,593, a maximum of $1,947, and an average of $1,770.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,737 to a maximum of $2,123, with an average of $1,930.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 South Lyon, MI 48178 Low Rent (90%) $936 $1,008 $1,251 $1,593 $1,737
Average Rent $1,040 $1,120 $1,390 $1,770 $1,930
High Rent(110%) $1,144 $1,232 $1,529 $1,947 $2,123
2024 South Lyon, MI 48178 Low Rent (90%) $936 $1,008 $1,251 $1,593 $1,737
Average Rent $1,040 $1,120 $1,390 $1,770 $1,930
High Rent (110%) $1,144 $1,232 $1,529 $1,947 $2,123
2024 South Lyon, MI 48178 Low Rent (90%) $936 $1,008 $1,251 $1,593 $1,737
Average Rent $1,040 $1,120 $1,390 $1,770 $1,930
High Rent(110%) $1,144 $1,232 $1,529 $1,947 $2,123
2023 South Lyon, MI 48178 Low Rent (90%) $855 $945 $1,170 $1,494 $1,629
Average Rent $950 $1,050 $1,300 $1,660 $1,810
High Rent (110%) $1,045 $1,155 $1,430 $1,826 $1,991
2022 South Lyon, MI 48178 Low Rent (90%) $837 $846 $1,026 $1,305 $1,539
Average Rent $930 $940 $1,140 $1,450 $1,710
High Rent(110%) $1,023 $1,034 $1,254 $1,595 $1,881
2021 South Lyon, MI 48178 Low Rent (90%) $729 $765 $963 $1,242 $1,440
Average Rent $810 $850 $1,070 $1,380 $1,600
High Rent (110%) $891 $935 $1,177 $1,518 $1,760
2020 South Lyon, MI 48178 Low Rent (90%) $729 $756 $927 $1,215 $1,494
Average Rent $810 $840 $1,030 $1,350 $1,660
High Rent(110%) $891 $924 $1,133 $1,485 $1,826
2019 South Lyon, MI 48178 Low Rent (90%) $711 $738 $900 $1,206 $1,494
Average Rent $790 $820 $1,000 $1,340 $1,660
High Rent (110%) $869 $902 $1,100 $1,474 $1,826


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