Location: Newaygo County, MI | Metro: Montcalm County, MI HUD Metro FMR Area
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 | $850 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,520 | $288,068 | 0.53% | F |
U.S. Census Bureau data (2024)
The market in ZIP 49329 presents a dynamic scenario that reflects a balance between supply and demand, but leans slightly towards demand-driven conditions. The Fair Market Rent (FMR) for the area is set at $1110 for fiscal year 2024, while the actual market rent reported by the Census ACS stands at $832. This discrepancy suggests that there may be an upward pressure on rents, indicating that tenants are willing to pay more than the current average market rate.
A key indicator of market health is the price-cut share, which is currently at a low 0.1%. This figure points to a robust rental market where landlords have little need to reduce their asking prices to attract tenants. Additionally, the median home value of $271,363 provides insight into the overall affordability and desirability of homeownership in the area, suggesting that it remains within reach for many potential buyers.
The 9.2% renter share indicates a significant portion of the population in ZIP 49329 prefers renting over owning. While this percentage might seem small, it actually signals a consistent long-term housing pressure. As the population grows or changes, the demand for rental properties could increase, especially if new residents lean towards renting rather than buying. This trend supports the idea that rental properties will continue to be sought after, maintaining the current market dynamics.
In summary, ZIP 49329's rental market appears to be in a state of flux, influenced by both existing conditions and future possibilities. Landlords and small-portfolio investors should consider the low price-cut share and the relatively high FMR as positive signs for rental income stability and growth potential. The median home value also suggests a market that is accessible to a broad range of buyers, though the modest renter share implies a steady demand for rental units.
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.