Location: Grand Rapids-Wyoming, MI | Metro: Grand Rapids-Wyoming, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
The ZIP code 49351 is located in Rockford, Michigan. Unfortunately, the demographic data for this specific ZIP code is not fully available, as indicated by the zero values for population, income per household, and median home value from the 2000 Census. However, we can still provide insights into the rental economics of the area.
The Fair Market Rent (FMR) for ZIP code 49351 is $1370 for fiscal year 2024. This figure represents the benchmark for rental costs under the Section 8 program. Without specific market rent data for ZIP 49351, it's challenging to compare the FMR directly to local rental prices. Nonetheless, the FMR can be a useful indicator for landlords and investors considering participation in the Section 8 program.
Given the limited demographic data, it's difficult to determine if ZIP 49351 is better suited for a hands-off voucher operator or a hands-on value-add buyer. However, the FMR suggests that the area may have a mix of affordability and demand for subsidized housing. Landlords should consider the local market dynamics and the potential for managing properties effectively under the Section 8 program before making an investment decision.
Data Sources: FMR data from HUD (2027).
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.