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Kent County/Cannonsburg/49317

49317

ZIPFMR
Kent County, MI
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,306$1,440
1 BR$1,365$1,500
2 BR$1,630$1,790
3 BR$2,113$2,270
4 BR$2,417$2,430
5 BR$2,780Not available
6 BR$3,196Not available
7 BR$3,676Not available
8 BR$4,227Not available

Purchase Price Calculator

Maximum purchase price
$204,077

Cost breakdown

+Likely effective rent$1,790
HUD FMR$1,630
Market rent$2,110
Est. payment standard (110%)Used$1,790
-Principal and interest-$1,032
Loan amount$163,261
Down payment$40,815
Rate6.50%
Term30 years
-Operating costs-$558
Property taxes-$204
Insurance-$175
Utilities$0
HOA$0
Management-$179
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,741(70.4% ROI)
Projected value
$219,768
Return breakdown
Property appreciation+$15,692
Loan principal paid down+$5,849
Rental cash flow+$7,200
5-year hold
+$49,248(120.7% ROI)
Projected value
$230,894
Return breakdown
Property appreciation+$26,817
Loan principal paid down+$10,431
Rental cash flow+$12,000
10-year hold
+$106,013(259.7% ROI)
Projected value
$261,236
Return breakdown
Property appreciation+$57,159
Loan principal paid down+$24,855
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.62
1 BR
0.66
2 BR
0.77
3 BR
0.90
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 49317 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 49317 (Cannonsburg, MI) is $1,630 a month. That is up 6.5% from $1,531 in FY 2026. Cannonsburg is in the Grand Rapids-Wyoming, MI HUD Metro FMR Area. The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49317 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49317
BedroomsFY 2027Change90–110% range
Studio$1,306+6.0%$1,175–$1,437
1BR$1,365+6.8%$1,229–$1,502
2BR$1,630+6.5%$1,467–$1,793
3BR$2,113+6.7%$1,902–$2,324
4BR$2,417+10.4%$2,175–$2,659

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49317
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,306$1,365$1,630$2,113$2,417
FY 2026$1,232$1,278$1,531$1,980$2,189
FY 2025$1,163$1,209$1,443$1,880$2,057
FY 2024$1,093$1,142$1,369$1,785$1,963
FY 2023$1,044$1,101$1,326$1,726$1,928

Questions about ZIP 49317 rents

How much will Section 8 pay for a two-bedroom in ZIP 49317?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,630, that basic range is $1,467 to $1,793 a month. 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 49317 in?

ZIP 49317 is in the Grand Rapids-Wyoming, MI HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 49317 for FY 2027?

The two-bedroom FMR rose 6.5%, from $1,531 in FY 2026 to $1,630 in FY 2027. Since FY 2023 it has risen 22.9%.

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 Fair Market Rents. 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 rentCannonsburg, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources