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Delta County/Wells/49894

49894

ZIPSAFMR
Delta County, MI
Zillow

ZIP Investment Score

86Below average

095130300
BRFMR
Eff. Rent
0 BR$810$890
1 BR$820$900
2 BR$1,070$1,150
3 BR$1,420$1,240
4 BR$1,780$1,260
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$108,973

Cost breakdown

+Likely effective rent$1,150
HUD FMR$1,070
Market rent$1,190
Est. payment standard (107%)Used$1,150
-Principal and interest-$551
Loan amount$87,178
Down payment$21,795
Rate6.50%
Term30 years
-Operating costs-$399
Property taxes-$109
Insurance-$175
Utilities$0
HOA$0
Management-$115
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,702(85.8% ROI)
Projected value
$117,352
Return breakdown
Property appreciation+$8,379
Loan principal paid down+$3,123
Rental cash flow+$7,200
5-year hold
+$31,890(146.3% ROI)
Projected value
$123,293
Return breakdown
Property appreciation+$14,320
Loan principal paid down+$5,570
Rental cash flow+$12,000
10-year hold
+$67,794(311.1% ROI)
Projected value
$139,495
Return breakdown
Property appreciation+$30,522
Loan principal paid down+$13,272
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.78
1 BR
0.80
2 BR
0.90
3 BR
1.15
4 BR
1.41
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 49894 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 49894 (Wells, MI) is $1,070 a month. That is up 3.9% from $1,030 in FY 2026. Wells is in the Delta 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 $1,014. Among 13 ZIP codes in Delta County, 49894 is tied for the 10th-highest two-bedroom rent (county range $1,010–$1,440). The median county two-bedroom FMR in Michigan is $1,085, so ZIP 49894 is 1% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 49894
BedroomsFY 2027Change90–110% range
Studio$810+6.6%$729–$891
1BR$820+3.8%$738–$902
2BR$1,070+3.9%$963–$1,177
3BR$1,420+3.6%$1,278–$1,562
4BR$1,780+2.9%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 49894
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$810$820$1,070$1,420$1,780
FY 2026$760$790$1,030$1,370$1,730
FY 2025$670$740$970$1,280$1,640
FY 2024area FMR$684$689$905$1,189$1,534
FY 2023area FMR$623$628$826$1,103$1,407

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

Two-bedroom rent in nearby Delta County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 49894
49817$1,130+5.6%
49818$1,080+0.9%
49829$1,010−5.6%
49835$1,130+5.6%
49837$1,120+4.7%
49854$1,010−5.6%
49864$1,440+34.6%
49872$1,340+25.2%
49878$1,440+34.6%
49880$1,0700.0%
49894Current$1,070—
49895$1,130+5.6%

Questions about ZIP 49894 rents

How much will Section 8 pay for a two-bedroom in ZIP 49894?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-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 $1,070 it would be $963 to $1,177. 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 49894 in?

ZIP 49894 is in the Delta County, MI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 49894 for FY 2027?

The two-bedroom FMR rose 3.9%, from $1,030 in FY 2026 to $1,070 in FY 2027. Since FY 2025 it has risen 10.3%.

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