Location: Kalamazoo-Portage, MI | Metro: Kalamazoo-Portage, MI MSA
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 | $770 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,380 |
| 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 | $1,380 | $288,200 | 0.48% | F |
| 4BR | $1,440 | $339,766 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 49053 has a population of 7,805, with only 10.1% of residents identified as renters. This indicates that the area is primarily dominated by homeowners rather than renters. Given this context, it is unlikely that there will be a high demand for Section 8 vouchers in this particular ZIP code.
The median household income in ZIP 49053 is $85,909, which provides a benchmark against which the rental market can be evaluated. The average market rent stands at $918, representing approximately 11% of the median household income. This percentage suggests that typical rent is relatively affordable for most residents, even without the assistance of housing vouchers.
Comparing the market rent to the Fair Market Rent (FMR) set by HUD, which is $950 for fiscal year 2024, shows that the market rent is slightly below the FMR. This implies that landlords in this area are charging rents that are competitive with government standards but still leave room for some flexibility if voucher amounts are lower than the FMR.
A landlord in ZIP 49053 should expect tenants who are likely to have stable incomes, given the overall economic health of the area. While some tenants may still require vouchers due to personal financial situations, the majority of potential renters are expected to be able to afford the market rate without subsidy. Landlords should prepare for a mix of tenants, with some possibly seeking assistance through Section 8 vouchers, though the prevalence of such cases is expected to be low compared to the total number of renters.
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.