Location: Iosco County, MI | Metro: Arenac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 48765 stands out due to its unique demographic and economic characteristics. With only 535 residents, it has a low population density, but 11.0% of these residents are renters. The median income in this ZIP is $45,000, which is modest compared to the median home value of $169,267, indicating that homeownership is relatively expensive here.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 48765 is set at $1,000 for the fiscal year 2026. This figure is notably higher than the current market rent, which stands at $819 according to the Census ACS. Landlords participating in the Section 8 program can expect to receive a higher rental income than the market average, thus potentially attracting more landlords to the area.
The disparity between the FMR and the actual market rent suggests an opportunity for landlords. By accepting Section 8 vouchers, they can charge closer to the $1,000 FMR, which is above the current market rate. This could be particularly beneficial given the high median home value, which might deter potential tenants without financial assistance.
Based on the available data, ZIP 48765 appears to have a stable housing market. The relatively low percentage of renters indicates a predominantly owner-occupied community, which typically implies stability. However, the significant gap between the FMR and the market rent points towards a transitional phase where the government's rental support may exceed local market conditions. This could lead to changes in the rental landscape, as landlords might adjust their strategies to align with the higher FMR offered through Section 8.
To summarize, ZIP 48765 presents a mixed picture of stability and transition. While the overall housing market seems steady, the dynamics of Section 8 voucher economics suggest a potential shift in rental practices. For small-portfolio investors and landlords, this could represent an opportunity to increase rental income by participating in the Section 8 program, thereby benefiting from the higher FMR.
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.