FY2027 Small Area FMR · Cedar, MI

ZIP 49621 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49621 (Cedar, MI) is $1,370 a month, down 2.1% from FY2026. That is 9% below the Leelanau County, MI area-wide FMR of $1,500.

2-bedroom SAFMR$1,370per month ▼ 2.1%

Area-wide 2 BR FMR$1,500Leelanau County, MI

Rank in the area10thof 12 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,233

2 BR Small Area FMR$1,370

110% of SAFMR$1,507

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,190▲ 15.5%

1 BR$1,230▼ 3.9%

2 BR$1,370▼ 2.1%

3 BR$1,630▼ 3.0%

4 BR$1,800▼ 2.7%

FY2027 FY2026

Where 49621 sits in the Leelanau County, MI area

Of the 12 ZIP codes HUD lists for the area, 49621 has the 10th highest two-bedroom Small Area FMR. Leelanau County, MI is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,500 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,370 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,190	$1,071 – $1,309	$1,308	$1,030
1 bedroom	$1,230	$1,107 – $1,353	$1,316	$1,280
2 bedrooms	$1,370	$1,233 – $1,507	$1,500	$1,400
3 bedrooms	$1,630	$1,467 – $1,793	$1,787	$1,680
4 bedrooms	$1,800	$1,620 – $1,980	$1,971	$1,850

A household renting a two-bedroom home at the Small Area FMR of $1,370 needs about $54,800 a year to keep housing costs at 30% of income. The area median family income is $122,100 and the 80% low-income limit for four people is $97,700. ZIP code 49621 lies mainly in Leelanau County. See the Leelanau County, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
49664	Maple City	6.4 mi	$1,680
49653	Lake Leelanau	7.6 mi	$1,350
49684	Traverse City	8.0 mi	$1,450
49636	Glen Arbor	9.5 mi	$1,520
49682	Suttons Bay	9.8 mi	$1,490
49685	Traverse City	10.2 mi	$1,600

Questions

What is the Fair Market Rent for ZIP code 49621?

HUD's FY2027 Small Area Fair Market Rents for 49621 are $1,190 (studio), $1,230 (1 BR), $1,370 (2 BR), $1,630 (3 BR) and $1,800 (4 BR) a month.

What is the Section 8 payment standard in 49621?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49621 that range is $1,233 to $1,507 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49621?

The FY2026 income limits of the Leelanau County, MI area apply: median family income $122,100, low-income (80%) limit $97,700 for a family of four.