In metropolitan areas, HUD defines Small Areas using ZIP Codes within the metropolitan area. Using ZIP codes as the basis for FMRs provides tenants with greater ability to move into ?Opportunity Neighborhoods? with jobs, public transportation, and good schools. They also provide for multiple payment standards within a metropolitan area, and they are likely to reduce need for extensive market area rent reasonableness studies. Lastly, HUD hopes that setting FMRs for each ZIP code will reduce overpayment in lower-rent areas.
Bay County is part of the Bay City, MI MSA.
| Bay County, MI Hypothetical Small Area FMRs By Unit Bedrooms | ||||||
|---|---|---|---|---|---|---|
| ZIP Code | Efficiency | One-Bedroom | Two-Bedroom | Three-Bedroom | Four-Bedroom | ZIP/CBSA Ratio |
| 48604 | $490 | $610 | $780 | $1,030 | $1,080 | 1.040 |
| 48611 | $510 | $600 | $800 | $1,050 | $1,100 | 1.108 |
| 48613 | $530 | $630 | $840 | $1,110 | $1,160 | 1.151 |
| 48623 | $640 | $790 | $1,010 | $1,340 | $1,410 | 1.347 |
| 48631 | $440 | $520 | $690 | $910 | $950 | 0.956 |
| 48634 | $470 | $560 | $740 | $970 | $1,020 | 1.024 |
| 48642 | $500 | $600 | $770 | $1,070 | $1,250 | 1.034 |
| 48650 | $490 | $580 | $770 | $1,010 | $1,060 | 1.059 |
| 48652 | $450 | $530 | $700 | $940 | $1,020 | 0.958 |
| 48658 | $430 | $510 | $680 | $890 | $940 | 0.913 |
| 48659 | $440 | $520 | $690 | $910 | $950 | 0.955 |
| 48706 | $480 | $570 | $760 | $1,000 | $1,050 | 1.052 |
| 48707 | $460 | $550 | $730 | $960 | $1,010 | 1.000 |
| 48708 | $430 | $510 | $680 | $890 | $940 | 0.924 |
| 48710 | $460 | $550 | $730 | $960 | $1,010 | 1.000 |
| 48732 | $440 | $520 | $690 | $910 | $950 | 0.946 |
| 48747 | $530 | $630 | $840 | $1,110 | $1,160 | 1.151 |
| 48757 | $430 | $530 | $680 | $900 | $940 | 0.867 |
* Small Area FMRs presented with an asterisk are calculated in accordance with the Guidance For Preparing Comments on Small Area FMRs available at here.
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