Location: Gratiot County, MI | Metro: Gratiot County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 48874 is situated in a predominantly owner-occupied neighborhood, with only 0.0% of residents being renters. This indicates a community where homeownership is the norm, suggesting a stable environment with long-term residents who have invested in their properties. The area boasts a median household income of $75,774, which places it above the national average and implies a relatively affluent demographic. However, the median home value is not available, making it challenging to assess the typical property values in the region.
Moving to the economic aspects of renting, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. This figure represents the benchmark for rental costs under the Section 8 program. Unfortunately, specific market rent data for ZIP 48874 is unavailable, which complicates direct comparisons between Section 8 rates and local market conditions. Given the low percentage of renters, it's likely that the demand for rental units, especially those subsidized by Section 8, will be limited.
In terms of investment strategy, ZIP 48874 would generally appeal more to a hands-off voucher operator rather than a hands-on value-add buyer. The high median income suggests that residents can afford higher rents, but the lack of rental demand means that there might not be significant opportunities for increasing rental income through renovations or improvements. For a landlord or investor focused on Section 8 tenants, the area's characteristics indicate a steady but potentially less dynamic market, suitable for those seeking reliable returns without the complexities of actively managing rental properties.
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.