Location: Allegan County, MI | Metro: Allegan County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
The ZIP code 49335 is not an ideal location for focusing on Section 8 tenants due to its low percentage of renters and high median household income. With only 0.0% of residents being renters, this area is predominantly occupied by homeowners. The median household income stands at $116,466, which is significantly above the federal poverty line and suggests a higher economic status among residents.
Given the lack of specific market rent data, it's impossible to provide an exact percentage of how much of the local income would be spent on typical rent. However, we can compare the median household income to the Fair Market Rent (FMR) figure provided, which is $1,370 for FY 2026 in the metro area. Assuming that the FMR is reflective of the typical rent in this ZIP code, a household earning $116,466 annually would spend approximately 15.3% of their monthly income on rent, calculated as follows: ($1,370 / ($116,466 / 12)) * 100 = 15.3%. This calculation shows that rent would consume a relatively small portion of the average resident's income, indicating that the cost of housing is manageable for most households.
The scarcity of voucher demand in ZIP 49335 is further evidenced by the low percentage of renters. Landlords in this area should anticipate a tenant pool that largely consists of individuals and families who do not rely on government assistance for housing. These tenants are likely to have stable employment and higher incomes, making them less dependent on rental subsidies and more capable of paying market rates without financial strain.
To summarize, ZIP 49335 is characterized by a homeowner-dominated population with a high median income, which makes it unsuitable for targeting Section 8 tenants. The expected tenant profile includes financially stable individuals who can afford market rents without assistance.
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.