Location: Mason County, MI | Metro: Mason County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The ZIP code 49405 presents a dynamic rental market that is currently experiencing significant forces shaping its trajectory. With a Fair Market Rent (FMR) of $970 set for the fiscal year 2026, it indicates a future expectation for rental prices in line with federal guidelines. However, the current market rent stands at $788 according to Census ACS data, suggesting a gap between actual rents and what might be expected under federal standards. This discrepancy could point towards either a stable market or one where demand is being met by a sufficient supply of rental units.
The median home value of $214,856 offers insight into the broader housing market, reflecting the overall affordability and desirability of owning property in this area. While specific metrics such as the percentage of price cuts and days on market (DOM) are unavailable, the lower-than-FMR market rent could imply that supply is meeting demand adequately, or even slightly exceeding it, thus keeping rents from rising to the anticipated levels.
A key indicator of long-term housing pressure is the 5.0% renter share. This relatively low percentage suggests that homeownership is the dominant form of housing tenure in 49405. Such a high proportion of homeowners can create a steady demand for rental properties among those who cannot yet afford to buy or prefer renting, but it also means that the majority of housing units are owned, which could limit the availability of rental properties and keep the market balanced. In a scenario where the renter share is so low, any increase in demand for rentals could quickly exert upward pressure on rents if the supply of rental units remains constant or decreases.
Landlords and small-portfolio investors should monitor the local economy and job market closely, as these factors will influence both the demand for rentals and the potential for appreciation in home values. The dynamics of the 49405 market suggest a need for careful management of rental properties to maintain occupancy rates and ensure financial stability. Given the snapshot of the current market conditions, it is clear that while the rental market is stable, it is also sensitive to changes in the broader economic environment and shifts in housing preferences.
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.