Location: Ionia County, MI | Metro: Grand Rapids-Wyoming, MI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $262,225 | 0.53% | F |
| 3BR | $1,790 | $315,071 | 0.57% | F |
| 4BR | $1,980 | $360,396 | 0.55% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP 48815, Clarksville, MI, begin with tenant turnover. The market rent stands at $1,271, while the Fair Market Rent (FMR) for FY 2024 is set at $1,200. This discrepancy suggests that landlords might struggle to attract tenants who qualify for the program, leading to higher turnover rates. High turnover can be costly due to frequent cleaning, repairs, and administrative tasks associated with new tenants.
Vacancy exposure is another concern. The Days on Market (DOM) figure is currently unavailable, which makes it difficult to predict how long properties might remain vacant between tenants. A prolonged vacancy period can significantly impact cash flow, especially when maintenance costs are factored in.
Deferred maintenance is a critical issue in ZIP 48815. With a typical home value of $295,167 and a median income of $85,962, many residents may find it challenging to keep up with necessary home repairs and improvements. Landlords must be prepared to handle these issues, as they can quickly escalate into major expenses if left unaddressed.
However, these risks are tempered by the substantial number of renters in the area. The renter share is 11.5%, indicating a relatively high concentration of potential voucher holders. This density often translates into a robust demand for affordable housing, making it easier for landlords to fill vacancies with qualified tenants.
In conclusion, the risks associated with Section 8 investments in ZIP 48815 are moderate. While there are challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the high renter density provides a counterbalance by ensuring a steady pool of qualified tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.