Location: Missaukee 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 | $1,210 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $123,087 | 0.82% | C |
| 3BR | $1,210 | $184,400 | 0.66% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 48625, located in Harrison, MI within the Missaukee County, MI metro area, does not favor profitability. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $970, which is significantly higher than the current market rent of $629 according to the Census ACS data. This discrepancy suggests that landlords may struggle to charge rents at the FMR level, leading to lower income than expected.
Acquisition in this ZIP code is relatively affordable. With a median home value of $127,859, purchasing properties is within reach for many small-portfolio investors. However, the lack of available data on days on market (DOM) and the very low percentage of homes needing price cuts (0.1%) indicate a stable but possibly slow-moving market for property acquisition. Landlords should expect steady, rather than rapid, turnover rates when buying properties in this area.
Tenant demand in ZIP 48625 is limited. The total population is 12,704, with only 10.3% being renters. This small share of renters implies that there might be fewer potential tenants looking for housing, which could make it challenging to fill vacancies quickly and maintain consistent occupancy levels.
Verdict: ZIP 48625 presents a challenging environment for landlords and small-portfolio investors due to the unfavorable rent math and limited tenant demand. While the median home value offers an affordable entry point into the market, the gap between the FMR and actual market rents, along with the low renter share of the population, suggests that rental properties will likely yield lower returns compared to areas where these factors align more favorably. Investors should proceed with caution and carefully consider the local market dynamics before committing capital to this ZIP code.
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.