Location: Niles, MI | Metro: Niles, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The ZIP code 49104 stands out due to its unique characteristics. With only 383 residents, it is among the least populated areas, making it an ideal location for landlords looking for a niche market. The lack of available data on the percentage of residents renting, median income, and median home value suggests that this ZIP code might be underrepresented in broader economic analyses, indicating a potential gap in the market for detailed insights.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 49104 in fiscal year 2024 is set at $1010. This figure is crucial for landlords who accept Section 8 vouchers, as it directly influences the rent they can charge. While the market rent is listed as N/A, the FMR provides a benchmark for rental pricing in subsidized housing. Landlords should use this figure to ensure their properties remain attractive to voucher holders while maintaining profitability.
In terms of stability, the data signature for ZIP 49104 reads as transitional. The limited population size and sparse economic data indicate that this area could be experiencing changes, whether in development, demographics, or both. Landlords and investors should monitor these trends closely to make informed decisions about long-term investments or rental strategies. The low population density also means that any significant change in the number of residents or economic conditions could have a substantial impact on the local real estate market.
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.