Location: Ogemaw County, MI | Metro: Arenac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 48770 reveals a significant gap between the Fair Market Rent (FMR) set by HUD and the actual market rent reported by the Census Bureau's American Community Survey (ACS). In fiscal year 2026, the FMR for the metro area is $970, while the market rent stands at $683. This creates a $287 difference, representing approximately a 42% gap between the two figures.
Given that the FMR exceeds the market rent, this situation transforms ZIP 48770 into a yield play for landlords and small-portfolio investors. Voucher tenants, who are guaranteed a portion of their rent through government subsidies, provide a stable income stream that is higher than what the open market currently offers. This makes properties in this ZIP code particularly attractive for those looking to maximize their rental yields.
The broader context of ZIP 48770 includes a rental population of 14.4%, a median home value of $135,088, and a median household income of $49,957. These factors suggest that there is a notable demand for affordable housing options within the area. The discrepancy between the FMR and market rent can be leveraged by landlords to ensure a steady cash flow, even if the rental units are priced below the FMR.
Landlords should be aware that accepting Section 8 tenants comes with certain responsibilities. They must ensure their properties meet the required standards for housing quality and safety. Additionally, the process involves a physical inspection and adherence to federal guidelines regarding the lease agreement and rent amount.
In summary, the gap between the FMR and market rent in ZIP 48770 presents an opportunity for landlords to secure higher rents than the open market offers, thereby increasing their investment yield. The specific dollar figures and percentages cited here anchor the analysis in concrete data, providing a clear picture of the financial landscape for those considering participation in the Section 8 program.
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.