Section 8 Fair Market Rent (FMR) for ZIP 49339 - 2027

Location: Newaygo County, MI | Metro: Montcalm County, MI HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$750
1 Bedroom	$920
2 Bedrooms	$1,090
3 Bedrooms	$1,330
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,188

Median Household Income

$86,611

Housing Units

1,044

Renter Percentage

4.8%

Occupancy Rate

77.5%

Renter Occupied

The ZIP code 49339, located in Michigan, offers a unique blend of suburban charm and accessibility to urban amenities, making it an attractive location for both renters and homeowners. This area is characterized by a mix of residential neighborhoods and commercial spaces, providing a stable environment for real estate investments.

The Fair Market Rent (FMR) for ZIP 49339 for fiscal year 2024 is set at $1,090, indicating a moderate level of rental affordability compared to other areas in the state.
The average market rent, according to the Census ACS, stands at $750, suggesting that the actual rental prices are below the FMR, which could mean opportunities for rental property owners to increase their rates slightly without deterring tenants.
The median home value in the area is $288,634, reflecting a middle-class neighborhood where housing is accessible but not overly affordable, balancing potential returns on investment with risk.
Renters make up 4.8% of the population, which is notably low, implying a preference for homeownership among residents. However, this also suggests a smaller pool of competition for rental properties.
The median income for households in ZIP 49339 is $86,611, indicating a relatively stable economic base that supports consistent rental payments and home purchases.

In summary, ZIP 49339 presents a balanced market for real estate investments. With rental prices currently below the FMR, there's potential for modest increases that can still attract tenants. The low renter share suggests limited competition but also indicates that rental properties should be well-managed to attract and retain tenants. Given the median home value and household income, this area supports a steady flow of financial transactions, beneficial for both short-term rentals and long-term investments. Landlords and small-portfolio investors can expect a stable yet moderately priced market, conducive to achieving steady returns without excessive risk.

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.