Location: Iosco County, MI | Metro: Arenac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The ZIP code 48766 presents an interesting balance between yield and stability for real estate investors. On the yield axis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $1,090, while the market rent stands at $794. This suggests that there is potential for higher rental yields compared to the broader market, given the proximity to the FMR. However, the median home value of $163,924 indicates a significant upfront investment for property acquisition.
Moving to the stability axis, the ZIP code reveals a mixed picture. With only 14.3% of residents being renters, the market has a relatively low concentration of tenants, which could imply lower demand for rental properties. The lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out once they become available. Lastly, the average household income of $56,583 provides insight into the financial capacity of potential renters, which is crucial for ensuring stable cash flow.
To classify 48766, it leans towards a steady-cashflow zone. The key figure driving this classification is the relatively low percentage of renters, which signals a market less prone to rapid fluctuations seen in high-renter concentration areas. Additionally, the median home value is considerably higher than the market rent, suggesting that while yields might not be extraordinarily high, the stability of returns is likely more reliable due to the financial standing of the local population. The income figure supports the idea that tenants can afford their rents, thereby reducing the risk of vacancies and defaults.
However, the gap between the market rent ($794) and the FMR ($1,090) indicates there is room for increasing rental rates, potentially moving towards a higher yield without sacrificing stability. This makes 48766 a promising area for those seeking a blend of moderate yield enhancement and consistent cash flow, rather than a high-risk, high-reward strategy typical of flip-style markets.
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.