Michigan · FIPS 26071 · HUD FY 2027
Iron County, Michigan Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Iron County is $1,132 a month (rent plus utilities), 17% below the Michigan average of $1,361 and 36% below the U.S. average of $1,761. That is up $64 (6.0%) from FY 2026. At 30% of income, a household needs about $45,280 a year to afford it.
- $1,1322-bedroom FMR+$64 (+6.0%) vs FY 2026
- $8651-bedroom FMRMichigan: $1,101 · U.S.: $1,478
- $45,280Income for a 2-bedroom$22/hour full-time
- 35 of 832BR rank in Michigan1 = highest rent
| Unit | Iron County FY 2027 | FY 2026 | Change | Michigan avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $808 | $756 | +$52 (+6.9%) | $1,003 | $1,379 | $32,320 |
| 1 bedroom | $865 | $814 | +$51 (+6.3%) | $1,101 | $1,478 | $34,600 |
| 2 bedrooms | $1,132 | $1,068 | +$64 (+6.0%) | $1,361 | $1,761 | $45,280 |
| 3 bedrooms | $1,349 | $1,281 | +$68 (+5.3%) | $1,697 | $2,266 | $53,960 |
| 4 bedrooms | $1,488 | $1,414 | +$74 (+5.2%) | $1,873 | $2,607 | $59,520 |
How Iron County compares
- Iron County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Michigan, 2-bedroom FMRs run from $1,014 (Tuscola County) to $1,804 (Washtenaw County).
- Studio to 4-bedroom: $808, $865, $1,132, $1,349, $1,488. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 6 ZIP codes mostly in Iron County (by land area), the 2-bedroom figure ranges from $1,010 to $1,180.
Small Area FMRs by ZIP code in Iron County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 49902 | $720 | $780 | $1,010 | $1,210 | $1,340 | +$40 (+4.1%) | 11% below |
| 49903 | $810 | $860 | $1,130 | $1,350 | $1,490 | +$160 (+16.5%) | about the same as |
| 49915 | $750 | $800 | $1,050 | $1,250 | $1,380 | +$20 (+1.9%) | 7% below |
| 49920 | $830 | $890 | $1,160 | $1,380 | $1,520 | +$60 (+5.5%) | 2% above |
| 49927 | $830 | $890 | $1,170 | $1,400 | $1,540 | +$70 (+6.4%) | 3% above |
| 49935 | $840 | $900 | $1,180 | $1,410 | $1,550 | +$80 (+7.3%) | 4% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.