Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,357$16,284 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Grand Traverse County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Grand Traverse County, MI
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $1,136 | $13,632 | $45,440 | $21.85/hr |
| 1-Bedroom Apartment | $1,143 | $13,716 | $45,720 | $21.98/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,357 | $16,284 | $54,280 | $26.10/hr |
| 3-Bedroom Home | $1,747 | $20,964 | $69,880 | $33.60/hr |
| 4-Bedroom Home | $1,797 | $21,564 | $71,880 | $34.56/hr |
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Frequently Asked Questions About Rent in Grand Traverse County, MI
What is the Fair Market Rent for a 2-bedroom in Grand Traverse County, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Grand Traverse County, MI is $1,357 per month ($16,284 per year).
What hourly wage is needed to afford rent in Grand Traverse County, MI?
To comfortably afford a 2-bedroom apartment at $1,357/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $26.10 per hour ($54,280/year).
What are the HUD Fair Market Rents by bedroom count in Grand Traverse County, MI?
Official 2026 HUD rents in Grand Traverse County, MI are: Studio: $1,136/mo, 1-Bedroom: $1,143/mo, 2-Bedroom: $1,357/mo, 3-Bedroom: $1,747/mo, and 4-Bedroom: $1,797/mo.
How do HUD Fair Market Rents compare to local incomes in Grand Traverse County, MI?
At the local Census ACS median household income of $81,647/year ($6,804/month), the benchmark 2-bedroom Fair Market Rent represents 19.9% of monthly income.
How is the 30% housing affordability standard calculated in Grand Traverse County, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,357/month, the required minimum annual gross income is calculated as ($1,357 × 12) ÷ 0.30 = $54,280 per year.