Section 8 Fair Market Rent (FMR) for ZIP 49234 - 2027

Location: Jackson, MI | Metro: Jackson, MI MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,080
1 Bedroom	$1,190
2 Bedrooms	$1,450
3 Bedrooms	$1,900
4 Bedrooms	$1,910
5 Bedrooms	$2,216
6 Bedrooms	$2,482
7 Bedrooms	$2,681
8 Bedrooms	$2,815

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,520

Median Household Income

$110,313

Housing Units

1,352

Renter Percentage

8.4%

Occupancy Rate

80.3%

Renter Occupied

Housing Authorities Serving ZIP 49234

Jackson Housing Commission (Jackson, MI) - 503 Section 8 vouchers

Clarklake, Michigan, located in ZIP code 49234, is a small community situated in Oakland County. This area offers a blend of rural charm and suburban convenience, making it attractive for both homeowners and renters. The following analysis provides key insights into the rental market dynamics, using specific data points to inform investment decisions.

The Fair Market Rent (FMR) for ZIP 49234 in fiscal year 2024 is set at $1,190.
The average market rent for the area, according to the latest Census American Community Survey (ACS), stands at $1,288.
The median home value in Clarklake is $319,745, indicating a stable housing market.
Renters make up 8.4% of the total population, suggesting that while the majority prefer homeownership, there remains a niche for rental properties.
The median income in the area is $110,313, which is above the national average, implying strong economic conditions that could support higher rents.
Unfortunately, the exact number of days on the market (DOM) for rental listings was not available, but the other indicators provide a comprehensive view of the local rental market.

In summary, the rental market in Clarklake, Michigan, presents a balanced opportunity. With the FMR slightly below the actual market rent, landlords can maintain competitive pricing while ensuring profitability. The relatively high median income supports the potential for premium rentals, despite the low renter share. For small-portfolio investors, Clarklake offers a stable environment with room for strategic investments in rental properties that cater to specific needs, such as short-term stays or specialized housing types.

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.