Location: St. Joseph County, MI | Metro: St. Joseph County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
ZIP code 49066, located within St. Joseph County, MI, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. This figure serves as a benchmark for rental affordability and housing quality standards.
The market rent for ZIP 49066 stands at $1,051, which is slightly below the FMR. This suggests that the area offers relatively affordable rental options compared to the broader metro average. Additionally, the median home value in 49066 is $199,293, indicating a moderate price point for homeownership.
A notable aspect of ZIP 49066 is its 18.1% renter share, which is a significant portion of the local population. High renter shares can indicate areas where rental properties are more common, potentially making it a more attractive location for landlords and small-portfolio investors.
When considering these metrics together, ZIP 49066 appears to be a value pocket within its metro. The combination of below-average market rents and a substantial renter share, alongside moderate home values, makes it an area where rental properties can be profitable without the need for extremely high property values.
To summarize, landlords and small-portfolio investors should find ZIP 49066 appealing due to its balance of affordability and rental demand. It stands out as a place where the cost of living is lower relative to the metro, yet the number of renters is substantial enough to ensure a steady demand for 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.