Location: Newaygo County, MI | Metro: Grand Rapids-Wyoming, 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 | $1,280 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,610 | $253,273 | 0.64% | D |
| 3BR | $2,090 | $334,556 | 0.62% | D |
| 4BR | $2,390 | $373,859 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 49330, located in Kent City, Michigan, has a population of 5,599 residents, with 14.8% being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy. The median household income stands at $75,794, which suggests a relatively affluent community.
In terms of rental affordability, the typical market rent of $1,125 represents approximately 14.8% of the median household income. This percentage is calculated by dividing the rent by the annual income ($1,125 / $75,794 * 12 months), indicating that the rent is manageable for most households in the area. However, it's worth noting that the Fair Market Rent (FMR) for ZIP 49330 is set at $1,230 for FY 2024, slightly higher than the current market rent.
The scarcity of vouchers in this area means that landlords can expect tenants who are likely to have stable employment and be capable of paying rent without government assistance. These tenants will typically be working professionals or families with a steady income source. While the voucher demand is not particularly deep, there may still be some tenants utilizing vouchers, especially those with lower incomes who qualify for assistance. Landlords should prepare to potentially negotiate rents closer to the FMR to attract voucher holders, given the slight premium over the current market rate.
To summarize, ZIP 49330 is better suited for landlords looking to attract independent, financially stable renters rather than those relying heavily on Section 8 vouchers. The expected tenant profile includes individuals or families with strong financial backgrounds and the ability to pay rent out-of-pocket, though some may require assistance to meet the higher FMR rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.