Location: Oscoda County, MI | Metro: Alcona 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 | $1,290 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $118,211 | 0.85% | C |
| 3BR | $1,290 | $166,972 | 0.77% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 48647, Mio, MI, is set at $970 per month for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning that voucher holders can be directed to units with rents up to this amount. However, it's important to note that this is not the actual rent you should charge your tenants; it's the maximum amount that the housing authority will reimburse.
To put this into perspective, the average rent in Mio, MI, based on Census American Community Survey data, is $656 per month. This indicates that the FMR for Section 8 is significantly higher than the local average, which could be beneficial if you're looking to offset some of the costs associated with maintaining and managing rental properties.
In ZIP 48647, renters make up 14.3% of the population. This suggests a moderate demand for rental housing, but it also means that there is a segment of the market interested in affordable housing options, which could include Section 8 voucher holders. If you have a property in this area, it's likely that you'll find tenants who qualify for Section 8 assistance.
When considering the acquisition of a rental property in Mio, MI, you should be aware that the median home value is around $125,935. This figure can help you estimate the potential investment cost and compare it against the expected rental income, factoring in the Section 8 reimbursement rates.
Before deciding to participate in the Section 8 program with your rental unit, it's crucial to verify that your property meets the minimum standards set by the housing authority. These standards ensure that the living conditions are safe and decent for tenants. Failing to meet these requirements could result in penalties or disqualification from the program.
In summary, the FMR of $970 provides a clear benchmark for the maximum reimbursement you can receive through Section 8. With an average local rent of $656 and a renter share of 14.3%, there is a viable market for affordable rentals. Ensure your property complies with the housing authority's standards to avoid any issues and to maximize the benefits of participating in the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.