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Grand Traverse County/Traverse City/49686

49686

ZIPSAFMR
Grand Traverse County, MI
Zillow

ZIP Investment Score

52Below average

095130300
BRFMR
Eff. Rent
0 BR$1,180$1,300
1 BR$1,180$1,300
2 BR$1,430$1,570
3 BR$1,880$2,070
4 BR$1,920$2,110
5 BR$2,208Not available
6 BR$2,539Not available
7 BR$2,920Not available
8 BR$3,358Not available

Purchase Price Calculator

Maximum purchase price
$171,385

Cost breakdown

+Likely effective rent$1,570
HUD FMR$1,430
Market rent$1,900
Est. payment standard (110%)Used$1,570
-Principal and interest-$867
Loan amount$137,108
Down payment$34,277
Rate6.50%
Term30 years
-Operating costs-$503
Property taxes-$171
Insurance-$175
Utilities$0
HOA$0
Management-$157
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,290(73.8% ROI)
Projected value
$184,563
Return breakdown
Property appreciation+$13,178
Loan principal paid down+$4,912
Rental cash flow+$7,200
5-year hold
+$43,281(126.3% ROI)
Projected value
$193,906
Return breakdown
Property appreciation+$22,521
Loan principal paid down+$8,760
Rental cash flow+$12,000
10-year hold
+$92,875(271.0% ROI)
Projected value
$219,387
Return breakdown
Property appreciation+$48,002
Loan principal paid down+$20,873
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.76
1 BR
0.67
2 BR
0.75
3 BR
0.85
4 BR
0.67
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49686 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49686 (Traverse City, MI) is $1,430 a month. That is up 4.4% from $1,370 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, 49686 has the 7th-highest two-bedroom rent (county range $1,230–$1,600). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49686 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49686
BedroomsFY 2027Change90–110% range
Studio$1,180+2.6%$1,062–$1,298
1BR$1,180+2.6%$1,062–$1,298
2BR$1,430+4.4%$1,287–$1,573
3BR$1,880+6.8%$1,692–$2,068
4BR$1,920+6.1%$1,728–$2,112

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49686
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,180$1,180$1,430$1,880$1,920
FY 2026$1,150$1,150$1,370$1,760$1,810
FY 2025$1,050$1,060$1,260$1,550$1,670
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. 49686
49620$1,320−7.7%
49633$1,370−4.2%
49637$1,440+0.7%
49643$1,340−6.3%
49649$1,230−14.0%
49680$1,230−14.0%
49683$1,230−14.0%
49684$1,450+1.4%
49685$1,600+11.9%
49686Current$1,430—
49690$1,480+3.5%
49696$1,470+2.8%

Questions about ZIP 49686 rents

How much will Section 8 pay for a two-bedroom in ZIP 49686?

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 $1,430 it would be $1,287 to $1,573. 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 49686 in?

ZIP 49686 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 49686 for FY 2027?

The two-bedroom FMR rose 4.4%, from $1,370 in FY 2026 to $1,430 in FY 2027. Since FY 2025 it has risen 13.5%.

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