Location: Allegan County, MI | Metro: Allegan County, MI
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 | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $325,686 | 0.35% | F |
| 3BR | $1,430 | $369,360 | 0.39% | F |
| 4BR | $1,590 | $476,425 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 49408, located in Fennville, Michigan, represents a modest-sized community with a population of 10,288 residents. Only 10.6% of these residents are renters, indicating that this area is primarily dominated by homeowners rather than renters. This characteristic suggests that the demand for housing vouchers under the Section 8 program is relatively low compared to areas with higher percentages of renters.
The median household income in Fennville is $73,452, which provides a baseline for assessing the affordability of rents. The typical market rent of $862 represents approximately 11.5% of the median household income. This percentage is on the lower side, suggesting that while rents are affordable, they do not necessarily reflect a high concentration of low-income households that would typically rely on housing vouchers.
To further contextualize the rental situation, it's useful to compare the market rent against the Fair Market Rent (FMR), which is set at $1,070 for the metro area in fiscal year 2026. At $862, the market rent is below the FMR, indicating that rents in Fennville are generally more affordable than the broader metropolitan average. However, this also implies that landlords might find it challenging to attract tenants eligible for the full value of Section 8 vouchers, as the voucher amount could exceed the typical market rent.
A landlord in Fennville should expect a tenant profile that is predominantly middle-income individuals and families who can afford market rents without significant subsidy assistance. While there will be some low-income tenants who may require housing vouchers, the overall number is expected to be limited due to the homeowner-dominated nature of the community. Landlords should focus on maintaining properties that appeal to a broad range of tenants, including those who might benefit from partial voucher support but are still capable of contributing a substantial portion of the rent themselves.
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.