Location: Van Buren County, MI | Metro: Allegan County, MI
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 | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $252,528 | 0.46% | F |
| 3BR | $1,430 | $276,724 | 0.52% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 49055, which encompasses Gobles, Michigan, stands at $62,083. Given the market rate for rent at $888 per month according to Census ACS data, it becomes evident that a significant portion of households in this area might struggle to cover their housing expenses comfortably. This figure represents a substantial chunk of an individual’s or household’s monthly budget.
When comparing the market rate to the Fair Market Rent (FMR) standard set for voucher payments, which is $1,110 per month for the metro area in fiscal year 2026, a notable discrepancy emerges. The FMR is higher than the current market rate, indicating that voucher holders have the potential to pay more than non-voucher tenants.
With only 16.2% of the 5,941 population being renters, the competition among landlords is relatively low. However, this also means there is limited demand for rental properties, making it crucial for landlords to consider both affordability and the benefits of accepting vouchers.
The affordability gap between the median income and the rent market rate suggests that many renters in Gobles may be financially stretched. Landlords should recognize that while the market rate appears lower than the FMR, the actual ability of tenants to pay even this reduced amount could be a concern. Vouchers provide a guaranteed source of income and reduce the risk of unpaid rent.
Takeaway: For landlords considering their strategy in ZIP 49055, focusing on accepting vouchers could prove beneficial. It ensures a steady stream of income that exceeds the current market rate and helps attract tenants who might otherwise find housing unaffordable. This approach aligns well with the economic realities faced by many residents in Gobles, Michigan.
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.