FY2027 Small Area FMR · Walloon Lake, MI

ZIP 49796 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49796 (Walloon Lake, MI) is $1,170 a month, up 5.4% from FY2026. That is 5% above the Charlevoix County, MI area-wide FMR of $1,119.

2-bedroom SAFMR$1,170per month ▲ 5.4%

Area-wide 2 BR FMR$1,119Charlevoix County, MI

Rank in the area5thof 10 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,053

2 BR Small Area FMR$1,170

110% of SAFMR$1,287

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

Studio$840▲ 6.3%

1 BR$890▲ 3.5%

2 BR$1,170▲ 5.4%

3 BR$1,540▲ 4.1%

4 BR$1,640▼ 4.7%

FY2027 FY2026

Where 49796 sits in the Charlevoix County, MI area

Of the 10 ZIP codes HUD lists for the area, 49796 has the 5th highest two-bedroom Small Area FMR. Charlevoix 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 $1,119 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,170 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	$840	$756 – $924	$798	$790
1 bedroom	$890	$801 – $979	$855	$860
2 bedrooms	$1,170	$1,053 – $1,287	$1,119	$1,110
3 bedrooms	$1,540	$1,386 – $1,694	$1,549	$1,480
4 bedrooms	$1,640	$1,476 – $1,804	$1,619	$1,720

A household renting a two-bedroom home at the Small Area FMR of $1,170 needs about $46,800 a year to keep housing costs at 30% of income. The area median family income is $97,400 and the 80% low-income limit for four people is $77,900. ZIP code 49796 lies mainly in Charlevoix County. See the Charlevoix County, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
49712	Boyne City	4.2 mi	$1,140
49770	Petoskey	5.8 mi	$1,360
49713	Boyne Falls	6.4 mi	$1,070
49727	East Jordan	11.7 mi	$1,060
49722	Conway	12.6 mi	$1,340
49764	Oden	13.1 mi	$1,250

Questions

What is the Fair Market Rent for ZIP code 49796?

HUD's FY2027 Small Area Fair Market Rents for 49796 are $840 (studio), $890 (1 BR), $1,170 (2 BR), $1,540 (3 BR) and $1,640 (4 BR) a month.

What is the Section 8 payment standard in 49796?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49796 that range is $1,053 to $1,287 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49796?

The FY2026 income limits of the Charlevoix County, MI area apply: median family income $97,400, low-income (80%) limit $77,900 for a family of four.