Location: Ogemaw County, MI | Metro: Ogemaw 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 | $740 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $173,093 | 0.6% | D |
| 3BR | $1,240 | $246,959 | 0.5% | F |
| 4BR | $1,370 | $307,361 | 0.45% | F |
U.S. Census Bureau data (2024)
ZIP code 48661, located in West Branch, MI within the Ogemaw County, MI metro area, presents an interesting comparison when analyzing its rental market and home values against typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 48661 stands at $980 for fiscal year 2026, which is higher than the market rent of $840. This indicates that while the subsidized rent rate is above the local average, it aligns closely with the expected rental price for the area.
The median home value in ZIP 48661 is $213,594, which is reflective of the overall housing market trends in Ogemaw County. This suggests that the housing market in 48661 is neither significantly undervalued nor overvalued compared to other ZIP codes in the county. However, the 20.9% renter share in this ZIP code is noteworthy, as it points towards a substantial portion of residents who are likely seeking rental accommodations, including those potentially eligible for Section 8 subsidies.
When considering these figures together, ZIP 48661 can be characterized as a mid-tier neighborhood within its metro. The FMR is slightly above the market rent, indicating that landlords participating in the Section 8 program could see a modest increase in rental income. Additionally, the home value is consistent with the broader county market, suggesting that real estate investments here are in line with what one might expect in a typical Ogemaw County ZIP code.
The divergence lies in the relatively high renter share, which could make this ZIP code particularly attractive for landlords and small-portfolio investors looking to tap into the Section 8 market. A high percentage of renters combined with home values that are not excessively high often signals a sweet spot for Section 8 properties, as it balances the potential for stable occupancy rates with reasonable investment costs.
In summary, ZIP 48661 offers a balanced opportunity for real estate investors interested in the Section 8 program, with a slight edge in terms of rental income potential due to the higher FMR. Its characteristics suggest it is a mid-tier neighborhood, neither a value pocket nor a premium sub-market, but offering solid returns and stability within the context of the Ogemaw County, MI metro area.
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.