Location: Tuscola County, MI | Metro: Huron County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The median income in ZIP code 48767 stands at $77,938, indicating a middle-class area where financial stability is a key characteristic of its residents. However, when it comes to housing costs, the landscape becomes more challenging. The market rate for rent, according to Census ACS data, is $929 per month, which already represents a significant portion of the average household's budget. This figure suggests that a considerable number of households might struggle to cover their living expenses without careful planning.
Adding another layer to the housing cost analysis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,130. This amount exceeds both the median income and the current market rate, highlighting a notable affordability gap. It means that even if the market rate is slightly lower, the FMR serves as an upper limit for what many renters can reasonably expect to pay, especially those relying on government assistance such as Section 8 vouchers.
Given that only 14.0% of the 2,043 residents are renters, the competition among landlords is relatively low. This scenario allows landlords to consider various rental strategies carefully. If the goal is to attract tenants who can pay the market rate without subsidies, then understanding the local income levels and rent expectations is crucial. However, if landlords aim to participate in the Section 8 program, they must be aware that the voucher payment standard is significantly higher than the current market rate but still below the FMR. This could influence the type of properties that are most attractive to voucher holders and how landlords price their units.
The takeaway for landlords is clear: while there is room to adjust rents based on the local market, participating in the Section 8 program requires setting rates closer to the FMR. Landlords should weigh the benefits of steady, government-backed payments against the potential for higher cash-paying rents. In ZIP 48767, landlords have the flexibility to choose their tenant mix based on the specific needs and financial situations of the local population, ensuring a balanced approach to profitability and service to the community.
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.