Location: Allegan 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 | $1,190 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $330,638 | 0.47% | F |
| 3BR | $1,950 | $365,388 | 0.53% | F |
| 4BR | $2,360 | $419,010 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 49333 is situated in the town of Middleville, Michigan, a community with a total population of 12,753 residents. Only 8.1% of these residents are renters, indicating a predominantly owner-occupied area. The median household income in this neighborhood is robust at $89,214, which places it well above the national average. Median home values are also impressive, standing at $360,355, suggesting a stable and affluent residential environment.
Turning to the economic landscape for rental properties, the Fair Market Rent (FMR) for ZIP 49333 in fiscal year 2024 is set at $1,460. This figure is notably higher than the actual market rent, which according to the Census Bureau's American Community Survey (ACS), averages $1,036. This discrepancy between the FMR and the market rent presents an opportunity for investors, particularly those interested in Section 8 housing.
Given the characteristics of Middleville, ZIP 49333 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means that landlords can expect to receive a subsidy that exceeds the typical rent charged in the area, making Section 8 properties financially viable without the need for active management. On the other hand, value-add buyers might find potential in upgrading homes to command closer to the FMR, thus increasing their rental income while still serving as Section 8 landlords. However, the relatively low percentage of renters suggests a limited pool of tenants, which could impact the demand for subsidized housing.
In summary, ZIP 49333 offers a mix of high-income stability and a subsidy-driven rental market that can cater to both passive and active investment strategies. The key lies in understanding the local demand and the potential for property enhancement to maximize returns.
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.