49510

ZIPSAFMR

Kent County, MI

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,310	$1,370	6.3%
1 BR	$1,370	$1,280	6.3%
2 BR	$1,630	$1,790	6.0%
3 BR	$2,110	$1,910	5.6%
4 BR	$2,420	$2,020	7.3%
5 BR	$2,783	Not available	7.3%
6 BR	$3,200	Not available	7.3%
7 BR	$3,681	Not available	7.3%
8 BR	$4,233	Not available	7.3%

Purchase Price Calculator

Maximum purchase price

$204,077

Cost breakdown

+Likely effective rent$1,790

HUD FMR$1,630

Market rent$1,880

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

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

+$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

Rolodex

Market Alignment

Studio

0.94ratio

FMR$1,310

Market$1,400

vs market-$90

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

0.94

1 BR

1.07ratio

FMR$1,370

Market$1,280

vs market+$90

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

1.07

2 BR

0.87ratio

FMR$1,630

Market$1,880

vs market-$250

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

0.87

3 BR

1.10ratio

FMR$2,110

Market$1,910

vs market+$200

FMR is above market; underwrite to market rent.

1.10

4 BR

1.20ratio

FMR$2,420

Market$2,020

vs market+$400

FMR is above market; underwrite to market rent.

1.20

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 49510 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49510 (Grand Rapids, MI) is $1,630 a month. That is up 6.5% from $1,530 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, 49510 is tied for the 14th-highest two-bedroom rent (county range $1,380–$2,450). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49510 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49510
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,230	$1,310	+6.5%	$1,179–$1,441
1BR	$1,280	$1,370	+7.0%	$1,233–$1,507
2BR	$1,530	$1,630	+6.5%	$1,467–$1,793
3BR	$1,980	$2,110	+6.6%	$1,899–$2,321
4BR	$2,190	$2,420	+10.5%	$2,178–$2,662

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49510
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,310	$1,370	$1,630	$2,110	$2,420
FY 2026	$1,230	$1,280	$1,530	$1,980	$2,190
FY 2025	$1,160	$1,210	$1,440	$1,880	$2,050
FY 2024	$1,090	$1,140	$1,370	$1,790	$1,960
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 code	2 bedroom	vs. 49510
49503	$1,760	+8.0%
49504	$1,620	−0.6%
49505	$1,730	+6.1%
49506	$1,790	+9.8%
49507	$1,600	−1.8%
49508	$1,640	+0.6%
49509	$1,380	−15.3%
49510Current	$1,630	—
49512	$1,630	0.0%
49514	$1,630	0.0%
49515	$1,630	0.0%
49516	$1,630	0.0%

Questions about ZIP 49510 rents

How much will Section 8 pay for a two-bedroom in ZIP 49510?

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 $1,630 it would be $1,467 to $1,793. 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 49510 in?

ZIP 49510 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 49510 for FY 2027?

The two-bedroom FMR rose 6.5%, from $1,530 in FY 2026 to $1,630 in FY 2027. Since FY 2023 it has risen 22.6%.

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