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
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Mortgage rate
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ZIP 49723 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49723 (Cross Village, MI) is $1,340 a month. Cross Village is in the Emmet County, MI non-metropolitan 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 county-wide two-bedroom FMR of $1,336. Among 13 ZIP codes in Emmet County, 49723 is tied for the 3rd-highest two-bedroom rent (county range $1,070–$1,380). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49723 is 24% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 49723
Bedrooms
FY 2027
90–110% range
Studio
$1,020
$918–$1,122
1BR
$1,020
$918–$1,122
2BR
$1,340
$1,206–$1,474
3BR
$1,600
$1,440–$1,760
4BR
$1,760
$1,584–$1,936
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 49723
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,020
$1,020
$1,340
$1,600
$1,760
FY 2026area FMR
$863
$941
$1,235
$1,481
$1,635
FY 2025area FMR
$808
$880
$1,154
$1,390
$1,535
FY 2024area FMR
$826
$900
$1,182
$1,429
$1,675
FY 2023area FMR
$652
$745
$975
$1,197
$1,385
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
How much will Section 8 pay for a two-bedroom in ZIP 49723?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,336, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,202 to $1,470 a month; under the ZIP-level Small Area FMR of $1,340 it would be $1,206 to $1,474. 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 49723 in?
ZIP 49723 is in the Emmet County, MI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,336.
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