Location: Hillsdale County, MI | Metro: Hillsdale County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 49282 stands as a market in motion, characterized by the Federal Market Rent (FMR) set at $1,210 for fiscal year 2026. This figure represents the government's assessment of the typical fair market rental value in the area, specifically for Section 8 housing vouchers. While the exact market rent remains unspecified, the absence of a significant price-cut share suggests that landlords in this region maintain their rental rates without substantial concessions, indicating a market where demand likely meets or slightly exceeds supply.
The 12.2% renter share highlights an interesting dynamic within the ZIP code. Although this percentage might seem low, it signals a potential long-term housing pressure. As renters make up a notable portion of the housing market, even a modest share can indicate steady demand for rental properties. This is particularly true if the population growth trends continue, leading to a constant influx of new residents who prefer renting over purchasing a home. The lack of median home value data further underscores the importance of the rental market in this area, suggesting that many households may be priced out of homeownership.
In summary, 49282 appears to be a market where demand for rental properties is strong enough to support the current FMR without requiring frequent price reductions. The relatively low but persistent renter share points to a dynamic where rental properties play a crucial role in accommodating those who cannot afford to buy homes. Landlords and small-portfolio investors should consider these factors when evaluating investment opportunities in this ZIP code.
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.