Location: Barnstable Town, MA | Metro: Barnstable Town, MA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,790 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,360 |
| 3 Bedrooms | $2,960 |
| 4 Bedrooms | $3,520 |
| 5 Bedrooms | $4,083 |
| 6 Bedrooms | $4,573 |
| 7 Bedrooms | $4,939 |
| 8 Bedrooms | $5,186 |
U.S. Census Bureau data (2024)
The ZIP code 02641 in Michigan presents a unique market dynamic that is crucial for landlords and small-portfolio investors to understand. The Fair Market Rent (FMR) for this area stands at $1980 for zip FY 2024, which serves as a benchmark for rental prices in the region.
A significant aspect of this market is the absence of recent market rent data, indicating a potential lack of current activity or reporting. This gap can be seen as a challenge for accurately gauging the immediate rental pressures and trends.
The data also reveals a 0.0% renter share, which suggests that the majority of residents in 02641 own their homes rather than renting. This characteristic points to a stable, possibly long-term oriented community, where homeownership is prevalent. Such a high owner-occupancy rate can imply less short-term volatility in rental markets but also indicates that there might be limited opportunities for rental investments compared to areas with higher renter shares.
Despite the lack of specific data on price-cut share and days on market (DOM), the overall snapshot hints at a market where supply and demand dynamics are likely balanced towards the side of demand. In regions with high homeownership rates, when rental properties become available, they often attract steady interest due to the limited number of units. This scenario can support relatively stable rental prices, aligning with the FMR without significant discounts.
The median home value data being unavailable suggests that there could be variability in property values, or it may indicate a smaller sample size for such metrics. However, given the context of a predominantly owner-occupied area, it's reasonable to infer that home values are generally stable, reflecting the long-term nature of housing investment in this ZIP code.
In summary, ZIP 02641 appears to be a market characterized by strong homeownership, suggesting a long-term stability in housing pressures. For investors, this means a focus on quality rentals that meet the needs of those seeking to live in an owner-dominated community, ensuring that rental properties are well-maintained and competitively priced at or around the $1980 FMR mark.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.