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Kent County/Grand Rapids/49548

49548

ZIPSAFMR
Kent County, MI
Zillow

ZIP Investment Score

117Above average

095130300
BRFMR
Eff. Rent
0 BR$1,230$1,350
1 BR$1,290$1,370
2 BR$1,540$1,660
3 BR$2,000$2,070
4 BR$2,280$2,400
5 BR$2,622Not available
6 BR$3,015Not available
7 BR$3,468Not available
8 BR$3,988Not available

Purchase Price Calculator

Maximum purchase price
$184,759

Cost breakdown

+Likely effective rent$1,660
HUD FMR$1,540
Market rent$1,730
Est. payment standard (108%)Used$1,660
-Principal and interest-$934
Loan amount$147,807
Down payment$36,952
Rate6.50%
Term30 years
-Operating costs-$526
Property taxes-$185
Insurance-$175
Utilities$0
HOA$0
Management-$166
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,702(72.3% ROI)
Projected value
$198,965
Return breakdown
Property appreciation+$14,206
Loan principal paid down+$5,296
Rental cash flow+$7,200
5-year hold
+$45,722(123.7% ROI)
Projected value
$209,038
Return breakdown
Property appreciation+$24,279
Loan principal paid down+$9,443
Rental cash flow+$12,000
10-year hold
+$98,250(265.9% ROI)
Projected value
$236,507
Return breakdown
Property appreciation+$51,748
Loan principal paid down+$22,502
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.91
2 BR
0.89
3 BR
0.95
4 BR
0.92
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49548 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49548 (Grand Rapids, MI) is $1,540 a month. That is up 7.7% 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, 49548 is tied for the 30th-highest two-bedroom rent (county range $1,380–$2,450). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49548 is 42% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49548
BedroomsFY 2027Change90–110% range
Studio$1,230+7.0%$1,107–$1,353
1BR$1,290+8.4%$1,161–$1,419
2BR$1,540+7.7%$1,386–$1,694
3BR$2,000+8.1%$1,800–$2,200
4BR$2,280+11.8%$2,052–$2,508

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49548
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,230$1,290$1,540$2,000$2,280
FY 2026$1,150$1,190$1,430$1,850$2,040
FY 2025$1,010$1,050$1,250$1,630$1,780
FY 2024$980$1,030$1,230$1,600$1,760
FY 2023$980$1,040$1,250$1,630$1,820

Two-bedroom rent in nearby Kent County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49548
49510$1,630+5.8%
49512$1,630+5.8%
49514$1,630+5.8%
49515$1,630+5.8%
49516$1,630+5.8%
49518$1,630+5.8%
49519$1,590+3.2%
49525$1,860+20.8%
49534$1,600+3.9%
49544$1,5400.0%
49546$1,770+14.9%
49548Current$1,540—

Questions about ZIP 49548 rents

How much will Section 8 pay for a two-bedroom in ZIP 49548?

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 $1,540 it would be $1,386 to $1,694. 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 49548 in?

ZIP 49548 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 49548 for FY 2027?

The two-bedroom FMR rose 7.7%, from $1,430 in FY 2026 to $1,540 in FY 2027. Since FY 2023 it has risen 23.2%.

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