Location: Mason County, MI | Metro: Mason County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 49410 presents a compelling opportunity for landlords and small-portfolio investors due to the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,150, while the Census ACS reports the average market rent at $888. This means there is a $262 difference, or approximately a 22.6% gap, between what voucher holders can pay and the prevailing market rate.
Given that the FMR exceeds the market rent, properties in ZIP 49410 become attractive for a yield play. Landlords who accept Section 8 vouchers can secure rental income that is higher than the typical market rate. With only 13.1% of residents being renters, the competition for rental properties is relatively low, making it easier to attract voucher tenants. Additionally, the median home value of $177,979 and median income of $61,515 suggest that homeownership is prevalent and the local economy supports a steady flow of income, which benefits landlords through consistent rent payments.
The higher FMR also implies that the government will cover a larger portion of the rent, reducing the financial burden on tenants and ensuring that landlords receive timely payments. In this scenario, the risk of vacancy is lower because the demand for affordable housing is high, especially among those who qualify for Section 8 assistance. Therefore, accepting Section 8 tenants can be a strategic move to increase rental yields and maintain occupancy rates in a market where rental demand is not overwhelming.
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.