Location: Arenac County, MI | Metro: Arenac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
U.S. Census Bureau data (2024)
ZIP code 48749, located within Arenac County, MI, presents distinct characteristics when compared against typical ZIP codes in the county. The Fair Market Rent (FMR) for the area is set at $1,100 for fiscal year 2026, which is notably lower than the market rent of $1,265. This indicates that while the government-subsidized rent levels are slightly below what the market demands, it still represents a significant portion of the actual rental prices.
The median home value in ZIP 48749 stands at $156,320, which is indicative of a more affordable housing market. In contrast, the average renter share in this ZIP is 7.4%, suggesting that a relatively smaller portion of the population opts for renting over owning. However, this figure alone doesn't provide enough context to determine if 48749 is a value pocket, mid-tier neighborhood, or a premium sub-market without additional comparative data on other ZIP codes within the county.
To identify whether ZIP 48749 is a sweet spot for Section 8 investors, consider the relationship between its renter share and home values. A higher renter share with below-average home values can signal an area where Section 8 vouchers are particularly valuable due to the availability of affordable rental properties. In ZIP 48749, the 7.4% renter share is modest, but the home value is significantly lower than what might be expected in a more affluent area, making it potentially attractive for those seeking to invest in affordable rental markets.
Based on the provided figures, ZIP 48749 appears to be a value pocket within the Arenac County, MI metro. Its below-market FMR combined with a lower median home value suggests that it offers opportunities for landlords and small-portfolio investors looking to capitalize on areas where rental assistance programs can help fill the demand for affordable housing.
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.