Newaygo County/Big Rapids/49307

49307

ZIPSAFMR

Newaygo County, MI

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ZIP Investment Score

101Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$770	$800	6.9%
1 BR	$870	$880	7.1%
2 BR	$1,080	$1,190	5.1%
3 BR	$1,350	$1,410	3.7%
4 BR	$1,660	$1,560	8.6%
5 BR	$1,909	Not available	8.6%
6 BR	$2,195	Not available	8.6%
7 BR	$2,525	Not available	8.6%
8 BR	$2,903	Not available	8.6%

Purchase Price Calculator

Maximum purchase price

$114,917

Cost breakdown

+Likely effective rent$1,190

HUD FMR$1,080

Market rent$1,280

Est. payment standard (110%)Used$1,190

-Principal and interest-$581

Loan amount$91,934

Down payment$22,983

Rate6.50%

Term30 years

-Operating costs-$409

Property taxes-$115

Insurance-$175

Utilities$0

HOA$0

Management-$119

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$19,330(84.1% ROI)

Projected value

$123,753

Return breakdown

Property appreciation+$8,836

Loan principal paid down+$3,294

Rental cash flow+$7,200

5-year hold

+$32,975(143.5% ROI)

Projected value

$130,018

Return breakdown

Property appreciation+$15,101

Loan principal paid down+$5,874

Rental cash flow+$12,000

10-year hold

+$70,182(305.4% ROI)

Projected value

$147,103

Return breakdown

Property appreciation+$32,186

Loan principal paid down+$13,996

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.94ratio

FMR$770

Market$820

vs market-$50

FMR is near market; voucher and private rents are aligned.

0.94

1 BR

0.99ratio

FMR$870

Market$880

vs market-$10

FMR is near market; voucher and private rents are aligned.

0.99

2 BR

0.84ratio

FMR$1,080

Market$1,280

vs market-$200

FMR is below market; voucher rent may lag private rents.

0.84

3 BR

0.94ratio

FMR$1,350

Market$1,440

vs market-$90

FMR is near market; voucher and private rents are aligned.

0.94

4 BR

1.06ratio

FMR$1,660

Market$1,560

vs market+$100

FMR is near market; voucher and private rents are aligned.

1.06

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 49307 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49307 (Big Rapids, MI) is $1,080 a month. That is up 6.9% from $1,010 in FY 2026. Big Rapids is in the Newaygo County, MI non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,028. Among 22 ZIP codes in Newaygo County, 49307 is tied for the 15th-highest two-bedroom rent (county range $1,010–$1,610).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49307
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$710	$770	+8.5%	$693–$847
1BR	$790	$870	+10.1%	$783–$957
2BR	$1,010	$1,080	+6.9%	$972–$1,188
3BR	$1,290	$1,350	+4.7%	$1,215–$1,485
4BR	$1,430	$1,660	+16.1%	$1,494–$1,826

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49307
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$770	$870	$1,080	$1,350	$1,660
FY 2026	$710	$790	$1,010	$1,290	$1,430
FY 2025	$660	$760	$940	$1,200	$1,330
FY 2024area FMR	$630	$708	$930	$1,211	$1,295
FY 2023area FMR	$578	$656	$864	$1,087	$1,195

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Newaygo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 49307
49303	$1,380	+27.8%
49304	$1,080	0.0%
49307Current	$1,080	—
49309	$1,010	−6.5%
49312	$1,030	−4.6%
49327	$1,380	+27.8%
49329	$1,220	+13.0%
49330	$1,610	+49.1%
49336	$1,100	+1.9%
49337	$1,170	+8.3%
49338	$1,160	+7.4%
49339	$1,090	+0.9%

Questions about ZIP 49307 rents

How much will Section 8 pay for a two-bedroom in ZIP 49307?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,028, which applies unless the housing authority uses Small Area FMRs, that basic range is $925 to $1,131 a month; under the ZIP-level Small Area FMR of $1,080 it would be $972 to $1,188. 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 49307 in?

ZIP 49307 is in the Newaygo County, MI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,028.

How much did fair market rent change in ZIP 49307 for FY 2027?

The two-bedroom FMR rose 6.9%, from $1,010 in FY 2026 to $1,080 in FY 2027. Since FY 2025 it has risen 14.9%.

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 rent Big Rapids, MI fair market rent MI statewide rents What is SAFMR?Data sources