ZIP 49315 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 49315 in the Grand Rapids-Wyoming, MI FMR area.

Grand Rapids-Wyoming, MI

$1,420Efficiency

$1,5001 bedroom

$1,7902 bedrooms

$2,3103 bedrooms

$2,6504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,420	$1,278	$1,562	$1,306
1 bedroom	$1,500	$1,350	$1,650	$1,365
2 bedrooms	$1,790	$1,611	$1,969	$1,630
3 bedrooms	$2,310	$2,079	$2,541	$2,113
4 bedrooms	$2,650	$2,385	$2,915	$2,417

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Holland-Grand Haven, MI

$1,420Efficiency

$1,5001 bedroom

$1,7902 bedrooms

$2,3103 bedrooms

$2,6504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,420	$1,278	$1,562	$1,077
1 bedroom	$1,500	$1,350	$1,650	$1,357
2 bedrooms	$1,790	$1,611	$1,969	$1,546
3 bedrooms	$2,310	$2,079	$2,541	$1,947
4 bedrooms	$2,650	$2,385	$2,915	$2,306

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Allegan County, MI

$1,420Efficiency

$1,5001 bedroom

$1,7902 bedrooms

$2,3103 bedrooms

$2,6504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,420	$1,278	$1,562	$984
1 bedroom	$1,500	$1,350	$1,650	$991
2 bedrooms	$1,790	$1,611	$1,969	$1,296
3 bedrooms	$2,310	$2,079	$2,541	$1,586
4 bedrooms	$2,650	$2,385	$2,915	$1,862

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 49315

$119,635average adjusted gross income per tax return (2022)

$73,584average salaries and wages per return

13,340tax returns filed

18%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	24.3%
$25,000 to $50,000	16.8%
$50,000 to $75,000	12.7%
$75,000 to $100,000	10.3%
$100,000 to $200,000	23.9%
$200,000 or more	12.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 4.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 49315?

HUD's FY2027 Small Area FMRs for ZIP 49315 (Grand Rapids-Wyoming, MI) are $1,420 efficiency, $1,500 one bedroom, $1,790 two bedrooms, $2,310 three and $2,650 four bedrooms.

What payment standard can a housing authority set in ZIP 49315?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,611 to $1,969.

How affordable is rent in ZIP 49315?

Tax returns filed from ZIP 49315 reported an average adjusted gross income of $119,635 (2022). A two-bedroom unit at the Small Area FMR costs $21,480 a year, or 18% of that income.