FY2027 Small Area FMR · Watersmeet, MI

ZIP 49969 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 49969 (Watersmeet, MI) is $1,130 a month, up 2.7% from FY2026. That is 11% above the Gogebic County, MI area-wide FMR of $1,014.

2-bedroom SAFMR$1,130per month ▲ 2.7%

Area-wide 2 BR FMR$1,014Gogebic County, MI

Rank in the area1stof 7 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,017

2 BR Small Area FMR$1,130

110% of SAFMR$1,243

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

Studio$790▲ 1.3%

1 BR$910▲ 5.8%

2 BR$1,130▲ 2.7%

3 BR$1,560▲ 2.0%

4 BR$1,670▲ 5.0%

FY2027 FY2026

Where 49969 sits in the Gogebic County, MI area

Of the 7 ZIP codes HUD lists for the area, 49969 has the 1st highest two-bedroom Small Area FMR. Gogebic 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 $1,130 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	$790	$711 – $869	$706	$780
1 bedroom	$910	$819 – $1,001	$816	$860
2 bedrooms	$1,130	$1,017 – $1,243	$1,014	$1,100
3 bedrooms	$1,560	$1,404 – $1,716	$1,404	$1,530
4 bedrooms	$1,670	$1,503 – $1,837	$1,495	$1,590

A household renting a two-bedroom home at the Small Area FMR of $1,130 needs about $45,200 a year to keep housing costs at 30% of income. The area median family income is $70,500 and the 80% low-income limit for four people is $66,900. ZIP code 49969 lies mainly in Gogebic County. See the Gogebic County, MI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
54540	Land O Lakes	10.2 mi	$1,010
54519	Conover	14.1 mi	$1,040
54554	Phelps	15.7 mi	$1,010
49912	Bruce Crossing	16.9 mi	$1,010
54561	Star Lake	18.0 mi	$1,150
49967	Trout Creek	21.1 mi	$1,030

Questions

What is the Fair Market Rent for ZIP code 49969?

HUD's FY2027 Small Area Fair Market Rents for 49969 are $790 (studio), $910 (1 BR), $1,130 (2 BR), $1,560 (3 BR) and $1,670 (4 BR) a month.

What is the Section 8 payment standard in 49969?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 49969 that range is $1,017 to $1,243 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 49969?

The FY2026 income limits of the Gogebic County, MI area apply: median family income $70,500, low-income (80%) limit $66,900 for a family of four.