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Kalkaska County/Williamsburg/49690

49690

ZIPSAFMR
Kalkaska County, MI
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,210
1 BR$1,220$1,220
2 BR$1,480$1,480
3 BR$1,940$1,940
4 BR$2,000$2,000
5 BR$2,300Not available
6 BR$2,645Not available
7 BR$3,042Not available
8 BR$3,498Not available

Purchase Price Calculator

Maximum purchase price
$158,011

Cost breakdown

+Likely effective rent$1,480
HUD FMRUsed$1,480
Market rentN/A
Est. payment standardN/A
-Principal and interest-$799
Loan amount$126,409
Down payment$31,602
Rate6.50%
Term30 years
-Operating costs-$481
Property taxes-$158
Insurance-$175
Utilities$0
HOA$0
Management-$148
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,878(75.6% ROI)
Projected value
$170,160
Return breakdown
Property appreciation+$12,150
Loan principal paid down+$4,529
Rental cash flow+$7,200
5-year hold
+$40,840(129.2% ROI)
Projected value
$178,775
Return breakdown
Property appreciation+$20,764
Loan principal paid down+$8,076
Rental cash flow+$12,000
10-year hold
+$87,501(276.9% ROI)
Projected value
$202,267
Return breakdown
Property appreciation+$44,256
Loan principal paid down+$19,244
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 49690 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49690 (Williamsburg, MI) is $1,480 a month. That is up 4.2% from $1,420 in FY 2026. Williamsburg is in the Kalkaska 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 $1,014. Among 8 ZIP codes in Kalkaska County, 49690 has the highest two-bedroom rent (county range $1,010–$1,480). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49690 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49690
BedroomsFY 2027Change90–110% range
Studio$1,210+3.4%$1,089–$1,331
1BR$1,220+3.4%$1,098–$1,342
2BR$1,480+4.2%$1,332–$1,628
3BR$1,940+6.6%$1,746–$2,134
4BR$2,000+6.4%$1,800–$2,200

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49690
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,220$1,480$1,940$2,000
FY 2026$1,170$1,180$1,420$1,820$1,880
FY 2025$1,070$1,100$1,320$1,640$1,760
FY 2024area FMR$613$689$905$1,211$1,275
FY 2023area FMR$552$628$826$1,084$1,140

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

Two-bedroom rent in nearby Kalkaska County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49690
49612$1,050−29.1%
49633$1,370−7.4%
49646$1,010−31.8%
49659$1,110−25.0%
49676$1,170−20.9%
49680$1,230−16.9%
49690Current$1,480—
49738$1,140−23.0%

Questions about ZIP 49690 rents

How much will Section 8 pay for a two-bedroom in ZIP 49690?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,480 it would be $1,332 to $1,628. 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 49690 in?

ZIP 49690 is in the Kalkaska County, MI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 49690 for FY 2027?

The two-bedroom FMR rose 4.2%, from $1,420 in FY 2026 to $1,480 in FY 2027. Since FY 2025 it has risen 12.1%.

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