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 | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $246,327 | 0.47% | F |
| 3BR | $1,620 | $304,069 | 0.53% | F |
| 4BR | $1,650 | $368,441 | 0.45% | F |
U.S. Census Bureau data (2024)
Newaygo County's ZIP code 49337 stands out among other areas due to its unique demographic and economic characteristics. With a total population of 13,149, only 13.6% of residents are renters, indicating a predominantly owner-occupied housing market. The median income for households in this ZIP code is $67,526, which is relatively stable compared to the national average. Additionally, the median home value in ZIP 49337 is $270,179, reflecting a moderate cost of living in the area.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 49337 has been set at $1,100 for fiscal year 2024. This figure is slightly higher than the Census-reported market rent of $1,049, suggesting that landlords who participate in the Section 8 program can expect a modest increase in rental income. However, given the low percentage of renters, the demand for subsidized housing may be limited, making it important for landlords to carefully consider the potential benefits and drawbacks of accepting Section 8 vouchers.
The data signature for ZIP 49337 reads as stable. The population size and median income have remained consistent over recent years, and the median home value suggests a steady property market. These factors indicate that the area is unlikely to experience significant transitional changes in the near future. Landlords and small-portfolio investors should focus on understanding the local rental market dynamics and the impact of the slightly elevated FMR on their overall investment strategy.
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.