Location: Mecosta County, MI | Metro: Montcalm County, 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 | $790 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $202,328 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 48829, with a population of 3,652, has a notable 18.1% of residents who are renters. This indicates that while there is a presence of renters, it is not a heavily renter-dominated area. The median household income in this ZIP stands at $63,750, which provides a basis for understanding the financial capacity of potential tenants.
The market rent in this area is currently set at $735 per month. This amount represents approximately 15.5% of the median household income, calculated by dividing the market rent by the median income ($735 / $63,750 * 100). This figure suggests that typical rents do not consume an overwhelming portion of local incomes, making them relatively affordable for most residents.
Comparing the market rent to the Fair Market Rent (FMR), which is $910 for fiscal year 2024, shows that the current market rent is below the FMR. This means that landlords can potentially receive higher rent payments through Section 8 vouchers, as the vouchers are designed to cover up to the FMR, thereby subsidizing the difference between the market rate and the FMR.
The type of tenant profile landlords in this ZIP code should expect includes individuals and families who rely on Section 8 housing vouchers to find affordable living spaces. These tenants will likely be seeking units that are priced close to or slightly above the market rent but still within the bounds of the FMR. Given the income levels and the current market conditions, these tenants will have a significant portion of their income subsidized by the government, allowing them to afford the $735 market rent without undue financial strain.
In summary, ZIP 48829 offers a moderate opportunity for landlords interested in attracting Section 8 tenants. With a mix of homeowners and renters, and a market rent that is comfortably below the FMR, landlords can expect a steady demand for rental properties that cater to this subsidy-supported demographic.
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.