Location: Van Buren County, MI | Metro: Allegan County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The market in ZIP code 49026 presents a dynamic scenario where the Fair Market Rent (FMR) set at $1,050 for fiscal year 2026 exceeds the current market rent of $956 based on Census ACS data. This suggests that there is potential upward pressure on rental prices, indicating a possible undersupply relative to demand. The median home value stands at $237,736, which offers insight into the overall cost of living and property values in the area.
A key factor in understanding the housing dynamics is the 13.0% renter share. While this percentage might seem low, it reflects a significant portion of the population that relies on rental housing. A lower renter share could imply that homeownership is relatively accessible, but it also means that any increase in the renter population can lead to heightened competition for rental properties, thereby exerting pressure on both rents and the availability of homes for sale.
The absence of data regarding the percentage of price-cut share and days on market (DOM) complicates a complete analysis of the current supply-demand balance. However, the fact that the FMR is higher than the current market rent suggests that landlords and small-portfolio investors have an opportunity to adjust their rental rates closer to the FMR without significantly impacting occupancy rates, assuming they offer competitive amenities and maintenance standards.
In summary, the ZIP 49026 market appears to be one where demand could soon outpace supply, particularly in the rental sector. Investors should monitor trends closely, especially any changes in the renter share and median home values, as these will signal shifts in the local housing dynamics.
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.