Skip to main content
Loading page
Grand Traverse County/Traverse City/49696

49696

ZIPSAFMR
Grand Traverse County, MI
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,330
1 BR$1,220$1,340
2 BR$1,470$1,620
3 BR$1,930$2,120
4 BR$1,970$2,170
5 BR$2,266Not available
6 BR$2,605Not available
7 BR$2,996Not available
8 BR$3,446Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,470
Market rent$2,170
Est. payment standard (110%)Used$1,620
-Principal and interest-$904
Loan amount$143,052
Down payment$35,763
Rate6.50%
Term30 years
-Operating costs-$516
Property taxes-$179
Insurance-$175
Utilities$0
HOA$0
Management-$162
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,074(72.9% ROI)
Projected value
$192,564
Return breakdown
Property appreciation+$13,749
Loan principal paid down+$5,125
Rental cash flow+$7,200
5-year hold
+$44,637(124.8% ROI)
Projected value
$202,313
Return breakdown
Property appreciation+$23,498
Loan principal paid down+$9,140
Rental cash flow+$12,000
10-year hold
+$95,861(268.0% ROI)
Projected value
$228,898
Return breakdown
Property appreciation+$50,083
Loan principal paid down+$21,778
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.81
1 BR
0.68
2 BR
0.68
3 BR
0.78
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 49696 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49696 (Traverse City, MI) is $1,470 a month. That is up 11.4% from $1,320 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, 49696 has the 3rd-highest two-bedroom rent (county range $1,230–$1,600). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49696 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49696
BedroomsFY 2027Change90–110% range
Studio$1,210+10.0%$1,089–$1,331
1BR$1,220+9.9%$1,098–$1,342
2BR$1,470+11.4%$1,323–$1,617
3BR$1,930+13.5%$1,737–$2,123
4BR$1,970+12.6%$1,773–$2,167

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49696
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,220$1,470$1,930$1,970
FY 2026$1,100$1,110$1,320$1,700$1,750
FY 2025$980$990$1,180$1,450$1,560
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. 49696
49620$1,320−10.2%
49633$1,370−6.8%
49637$1,440−2.0%
49643$1,340−8.8%
49649$1,230−16.3%
49680$1,230−16.3%
49683$1,230−16.3%
49684$1,450−1.4%
49685$1,600+8.8%
49686$1,430−2.7%
49690$1,480+0.7%
49696Current$1,470—

Questions about ZIP 49696 rents

How much will Section 8 pay for a two-bedroom in ZIP 49696?

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 $1,470 it would be $1,323 to $1,617. 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 49696 in?

ZIP 49696 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 49696 for FY 2027?

The two-bedroom FMR rose 11.4%, from $1,320 in FY 2026 to $1,470 in FY 2027. Since FY 2025 it has risen 24.6%.

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