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Eaton County/Bellevue/49021

49021

ZIPSAFMR
Eaton County, MI
Zillow

ZIP Investment Score

114Above average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,040
1 BR$1,070$1,070
2 BR$1,360$1,360
3 BR$1,710$1,710
4 BR$1,890$1,890
5 BR$2,174Not available
6 BR$2,500Not available
7 BR$2,874Not available
8 BR$3,306Not available

Purchase Price Calculator

Maximum purchase price
$140,179

Cost breakdown

+Likely effective rent$1,360
HUD FMRUsed$1,360
Market rentN/A
Est. payment standardN/A
-Principal and interest-$709
Loan amount$112,143
Down payment$28,036
Rate6.50%
Term30 years
-Operating costs-$451
Property taxes-$140
Insurance-$175
Utilities$0
HOA$0
Management-$136
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,996(78.5% ROI)
Projected value
$150,957
Return breakdown
Property appreciation+$10,778
Loan principal paid down+$4,018
Rental cash flow+$7,200
5-year hold
+$37,586(134.1% ROI)
Projected value
$158,600
Return breakdown
Property appreciation+$18,421
Loan principal paid down+$7,165
Rental cash flow+$12,000
10-year hold
+$80,334(286.5% ROI)
Projected value
$179,441
Return breakdown
Property appreciation+$39,262
Loan principal paid down+$17,073
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 49021 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49021 (Bellevue, MI) is $1,360 a month. That is up 7.9% from $1,260 in FY 2026. Bellevue is in the Lansing-East Lansing, MI MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,323. Among 21 ZIP codes in Eaton County, 49021 has the 3rd-highest two-bedroom rent (county range $1,150–$1,480). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49021 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49021
BedroomsFY 2027Change90–110% range
Studio$1,040+8.3%$936–$1,144
1BR$1,070+8.1%$963–$1,177
2BR$1,360+7.9%$1,224–$1,496
3BR$1,710+5.6%$1,539–$1,881
4BR$1,890+7.4%$1,701–$2,079

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49021
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,070$1,360$1,710$1,890
FY 2026$960$990$1,260$1,620$1,760
FY 2025$770$810$1,020$1,330$1,400
FY 2024$780$820$1,010$1,310$1,370
FY 2023$770$800$980$1,270$1,340

Two-bedroom rent in nearby Eaton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49021
48876$1,290−5.1%
48890$1,300−4.4%
48897$1,210−11.0%
48906$1,350−0.7%
48908$1,310−3.7%
48911$1,210−11.0%
48917$1,380+1.5%
49014$1,300−4.4%
49021Current$1,360—
49073$1,210−11.0%
49076$1,150−15.4%
49096$1,150−15.4%

Questions about ZIP 49021 rents

How much will Section 8 pay for a two-bedroom in ZIP 49021?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,323, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,191 to $1,455 a month; under the ZIP-level Small Area FMR of $1,360 it would be $1,224 to $1,496. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 49021 in?

ZIP 49021 is in the Lansing-East Lansing, MI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,323.

How much did fair market rent change in ZIP 49021 for FY 2027?

The two-bedroom FMR rose 7.9%, from $1,260 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 38.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentBellevue, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources