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Grand Traverse County/Traverse City/49684

49684

ZIPSAFMR
Grand Traverse County, MI
Zillow

ZIP Investment Score

35Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,330
1 BR$1,230$1,350
2 BR$1,450$1,490
3 BR$1,850$1,520
4 BR$1,940$2,060
5 BR$2,231Not available
6 BR$2,566Not available
7 BR$2,950Not available
8 BR$3,393Not available

Purchase Price Calculator

Maximum purchase price
$159,497

Cost breakdown

+Likely effective rent$1,490
HUD FMR$1,450
Market rent$1,510
Est. payment standard (103%)Used$1,490
-Principal and interest-$807
Loan amount$127,598
Down payment$31,899
Rate6.50%
Term30 years
-Operating costs-$483
Property taxes-$159
Insurance-$175
Utilities$0
HOA$0
Management-$149
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,035(75.3% ROI)
Projected value
$171,761
Return breakdown
Property appreciation+$12,264
Loan principal paid down+$4,572
Rental cash flow+$7,200
5-year hold
+$41,111(128.9% ROI)
Projected value
$180,456
Return breakdown
Property appreciation+$20,959
Loan principal paid down+$8,152
Rental cash flow+$12,000
10-year hold
+$88,098(276.2% ROI)
Projected value
$204,170
Return breakdown
Property appreciation+$44,673
Loan principal paid down+$19,425
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.81
1 BR
0.76
2 BR
0.96
3 BR
1.22
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49684 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49684 (Traverse City, MI) is $1,450 a month. That is up 5.1% from $1,380 in FY 2026. Traverse City is in the Grand Traverse County, 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 $1,436. Among 13 ZIP codes in Grand Traverse County, 49684 has the 4th-highest two-bedroom rent (county range $1,230–$1,600). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49684 is 34% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49684
BedroomsFY 2027Change90–110% range
Studio$1,210+8.0%$1,089–$1,331
1BR$1,230+3.4%$1,107–$1,353
2BR$1,450+5.1%$1,305–$1,595
3BR$1,850+5.7%$1,665–$2,035
4BR$1,940+6.0%$1,746–$2,134

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49684
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,230$1,450$1,850$1,940
FY 2026$1,120$1,190$1,380$1,750$1,830
FY 2025$1,010$1,080$1,270$1,560$1,680
FY 2024area FMR$1,044$1,061$1,232$1,490$1,641
FY 2023area FMR$750$914$1,085$1,321$1,458

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

Two-bedroom rent in nearby Grand Traverse County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49684
49620$1,320−9.0%
49633$1,370−5.5%
49637$1,440−0.7%
49643$1,340−7.6%
49649$1,230−15.2%
49680$1,230−15.2%
49683$1,230−15.2%
49684Current$1,450—
49685$1,600+10.3%
49686$1,430−1.4%
49690$1,480+2.1%
49696$1,470+1.4%

Questions about ZIP 49684 rents

How much will Section 8 pay for a two-bedroom in ZIP 49684?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,436, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,292 to $1,580 a month; under the ZIP-level Small Area FMR of $1,450 it would be $1,305 to $1,595. 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 49684 in?

ZIP 49684 is in the Grand Traverse County, MI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,436.

How much did fair market rent change in ZIP 49684 for FY 2027?

The two-bedroom FMR rose 5.1%, from $1,380 in FY 2026 to $1,450 in FY 2027. Since FY 2025 it has risen 14.2%.

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 rentTraverse City, MI fair market rentMI statewide rentsWhat is SAFMR?Data sources