FY2027 Small Area FMR · Traverse City, MI

ZIP 49685 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49685 (Traverse City, MI) is $1,600 a month, up 7.4% from FY2026. That is 11% above the Grand Traverse County, MI area-wide FMR of $1,436.

2-bedroom SAFMR$1,600per month ▲ 7.4%

Area-wide 2 BR FMR$1,436Grand Traverse County, MI

Rank in the area1stof 13 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,440

2 BR Small Area FMR$1,600

110% of SAFMR$1,760

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

Studio$1,320▲ 5.6%

1 BR$1,320▲ 5.6%

2 BR$1,600▲ 7.4%

3 BR$2,100▲ 9.4%

4 BR$2,150▲ 9.1%

FY2027 FY2026

Where 49685 sits in the Grand Traverse County, MI area

Of the 13 ZIP codes HUD lists for the area, 49685 has the 1st highest two-bedroom Small Area FMR. Grand Traverse 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 $1,436 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,600 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	$1,320	$1,188 – $1,452	$1,181	$1,250
1 bedroom	$1,320	$1,188 – $1,452	$1,188	$1,250
2 bedrooms	$1,600	$1,440 – $1,760	$1,436	$1,490
3 bedrooms	$2,100	$1,890 – $2,310	$1,883	$1,920
4 bedrooms	$2,150	$1,935 – $2,365	$1,928	$1,970

A household renting a two-bedroom home at the Small Area FMR of $1,600 needs about $64,000 a year to keep housing costs at 30% of income. The area median family income is $113,900 and the 80% low-income limit for four people is $91,100. ZIP code 49685 lies mainly in Grand Traverse County. See the Grand Traverse County, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
49696	Traverse City	0.0 mi	$1,470
49686	Traverse City	7.1 mi	$1,430
49684	Traverse City	7.3 mi	$1,450
49690	Williamsburg	8.8 mi	$1,480
49621	Cedar	10.2 mi	$1,370
49682	Suttons Bay	10.8 mi	$1,490

Questions

What is the Fair Market Rent for ZIP code 49685?

HUD's FY2027 Small Area Fair Market Rents for 49685 are $1,320 (studio), $1,320 (1 BR), $1,600 (2 BR), $2,100 (3 BR) and $2,150 (4 BR) a month.

What is the Section 8 payment standard in 49685?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49685 that range is $1,440 to $1,760 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49685?

The FY2026 income limits of the Grand Traverse County, MI area apply: median family income $113,900, low-income (80%) limit $91,100 for a family of four.