Location: Roscommon County, MI | Metro: Clare County, MI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $171,103 | 0.59% | F |
| 3BR | $1,400 | $237,833 | 0.59% | F |
| 4BR | $1,570 | $305,561 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP code 48624, located in Gladwin, MI within the broader Roscommon County, MI metro area, exhibits several characteristics that set it apart from other ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 48624 stands at $970 for fiscal year 2026, which is notably higher than the market rent figure of $673. This discrepancy suggests that federally subsidized rents are above what the local market would typically bear, indicating a potential value pocket for landlords participating in Section 8 programs.
The median home value in ZIP 48624 is $195,865, which is likely representative of the overall housing market conditions in the area. When compared to the FMR and market rent, this home value implies that the ZIP is neither particularly expensive nor inexpensive relative to the metro. However, the 13.0% renter share is an important factor to consider. A higher-than-average renter share can be indicative of a greater demand for rental properties, which is beneficial for landlords and small-portfolio investors.
In summary, ZIP 48624 appears to be a mid-tier neighborhood within the Roscommon County, MI metro. It offers a reasonable balance between home values and rental demand. The elevated FMR compared to market rent, coupled with a modest but notable renter share, positions this ZIP as a sweet spot for those interested in Section 8 investments. Landlords should take advantage of the higher subsidized rent rates while recognizing the underlying market conditions.
Note the divergence between the FMR and market rent figures. In ZIP 48624, the FMR is significantly higher, which can be advantageous for landlords receiving subsidies. This scenario, where a ZIP has a below-average home value and a relatively high renter share, often signifies a favorable environment for Section 8 participation.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.