Location: Muskegon-Norton Shores, 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 | $1,110 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,790 | $366,171 | 0.49% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 49403 hinges on its financial metrics and the characteristics of its rental market. With a Fair Market Rent (FMR) of $1320 for the fiscal year 2024, it stands out as a notable figure compared to the average market rent which is currently unavailable. However, the median home value of $377,108 suggests that the area is primarily residential with a significant investment in property values.
In terms of stability, the rental market indicates that only 9.3% of the population are renters, which points towards a lower demand for rentals. The lack of data regarding the number of days on market (DOM) makes it difficult to assess the speed at which properties are rented out. Additionally, the average household income of $85,000 provides insight into the economic standing of residents, suggesting a stable financial environment for potential tenants.
Given these figures, ZIP 49403 leans towards being a steady-cashflow zone. The relatively low percentage of renters and the high median home value suggest a market where rental yields are moderate but consistent. While the FMR of $1320 offers a good return on investment, the limited rental market size implies less volatility and a preference for long-term, stable cash flows over short-term, high-yield flips. This conclusion is driven by the available income and home value data, which indicate a balanced, albeit not highly lucrative, rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.