FY2027 Small Area FMR · Grayling, MI
ZIP 49738 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49738 (Grayling, MI) is $1,140 a month, up 6.5% from FY2026. That is 12% above the Kalkaska County, MI area-wide FMR of $1,014.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 49738 sits in the Kalkaska County, MI area
Of the 8 ZIP codes HUD lists for the area, 49738 has the 5th highest two-bedroom Small Area FMR. Kalkaska 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,140 for this ZIP code instead.
ZIP code 49738 crosses more than one HUD area. HUD also lists it under Crawford County, MI (same figures), Oscoda County, MI (same figures) and Otsego County, MI (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $800 | $720 – $880 | $813 | $740 |
| 1 bedroom | $900 | $810 – $990 | $818 | $900 |
| 2 bedrooms | $1,140 | $1,026 – $1,254 | $1,014 | $1,070 |
| 3 bedrooms | $1,360 | $1,224 – $1,496 | $1,404 | $1,290 |
| 4 bedrooms | $1,600 | $1,440 – $1,760 | $1,426 | $1,520 |
A household renting a two-bedroom home at the Small Area FMR of $1,140 needs about $45,600 a year to keep housing costs at 30% of income. The area median family income is $86,600 and the 80% low-income limit for four people is $69,300. ZIP code 49738 lies mainly in Crawford County, Kalkaska County and Otsego County. See the Kalkaska County, MI county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 49738?
HUD's FY2027 Small Area Fair Market Rents for 49738 are $800 (studio), $900 (1 BR), $1,140 (2 BR), $1,360 (3 BR) and $1,600 (4 BR) a month.
What is the Section 8 payment standard in 49738?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49738 that range is $1,026 to $1,254 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 49738?
The FY2026 income limits of the Kalkaska County, MI area apply: median family income $86,600, low-income (80%) limit $69,300 for a family of four.