Skip to main content
Loading page
Kent County/Grand Rapids/49504

49504

ZIPSAFMR
Kent County, MI
Zillow

ZIP Investment Score

97Above average

095130300
BRFMR
Eff. Rent
0 BR$1,300$1,430
1 BR$1,360$1,300
2 BR$1,620$1,590
3 BR$2,100$1,920
4 BR$2,400$2,350
5 BR$2,760Not available
6 BR$3,174Not available
7 BR$3,650Not available
8 BR$4,198Not available

Purchase Price Calculator

Maximum purchase price
$174,357

Cost breakdown

+Likely effective rent$1,590
HUD FMR$1,620
Market rentUsed$1,590
Est. payment standard (99%)$1,600
-Principal and interest-$882
Loan amount$139,485
Down payment$34,871
Rate6.50%
Term30 years
-Operating costs-$508
Property taxes-$174
Insurance-$175
Utilities$0
HOA$0
Management-$159
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,604(73.4% ROI)
Projected value
$187,763
Return breakdown
Property appreciation+$13,406
Loan principal paid down+$4,997
Rental cash flow+$7,200
5-year hold
+$43,824(125.7% ROI)
Projected value
$197,269
Return breakdown
Property appreciation+$22,912
Loan principal paid down+$8,912
Rental cash flow+$12,000
10-year hold
+$94,070(269.8% ROI)
Projected value
$223,192
Return breakdown
Property appreciation+$48,835
Loan principal paid down+$21,235
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.84
1 BR
1.05
2 BR
1.02
3 BR
1.09
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49504 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49504 (Grand Rapids, MI) is $1,620 a month. That is up 13.3% from $1,430 in FY 2026. Grand Rapids is in the Grand Rapids-Wyoming, MI HUD Metro 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 metro-wide two-bedroom FMR of $1,630. Among 50 ZIP codes in Kent County, 49504 has the 24th-highest two-bedroom rent (county range $1,380–$2,450). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49504 is 49% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49504
BedroomsFY 2027Change90–110% range
Studio$1,300+13.0%$1,170–$1,430
1BR$1,360+14.3%$1,224–$1,496
2BR$1,620+13.3%$1,458–$1,782
3BR$2,100+13.5%$1,890–$2,310
4BR$2,400+17.6%$2,160–$2,640

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49504
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,300$1,360$1,620$2,100$2,400
FY 2026$1,150$1,190$1,430$1,850$2,040
FY 2025$1,080$1,120$1,340$1,750$1,910
FY 2024$1,050$1,090$1,310$1,710$1,880
FY 2023$1,050$1,100$1,330$1,730$1,930

Two-bedroom rent in nearby Kent County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49504
49501$1,630+0.6%
49503$1,760+8.6%
49504Current$1,620—
49505$1,730+6.8%
49506$1,790+10.5%
49507$1,600−1.2%
49508$1,640+1.2%
49509$1,380−14.8%
49510$1,630+0.6%
49512$1,630+0.6%
49514$1,630+0.6%
49515$1,630+0.6%

Questions about ZIP 49504 rents

How much will Section 8 pay for a two-bedroom in ZIP 49504?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,630, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,467 to $1,793 a month; under the ZIP-level Small Area FMR of $1,620 it would be $1,458 to $1,782. 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 49504 in?

ZIP 49504 is in the Grand Rapids-Wyoming, MI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,630.

How much did fair market rent change in ZIP 49504 for FY 2027?

The two-bedroom FMR rose 13.3%, from $1,430 in FY 2026 to $1,620 in FY 2027. Since FY 2023 it has risen 21.8%.

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 rentGrand Rapids, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources