Location: Mason County, MI | Metro: Manistee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 49411 is situated in a small, close-knit community with a total population of 1,698. Only 4.6% of the residents are renters, indicating a predominantly owner-occupied area. The median household income stands at $61,857, reflecting a modestly affluent neighborhood. The median home value is $262,785, which suggests that homeownership is attainable for many local families.
From an investment perspective, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,280, whereas the actual market rent, according to the Census ACS, is significantly lower at $862. This disparity between the FMR and the market rent presents an opportunity for landlords and small-portfolio investors to offer competitive rental rates while still benefiting from the higher reimbursement rates provided by the Section 8 program.
Given these economic conditions, ZIP 49411 could be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the potential for receiving the higher FMR rate without having to actively manage property values can be attractive. On the other hand, value-add buyers might find opportunities to improve properties and charge closer to the FMR rate, thereby increasing their rental income while providing quality housing options to Section 8 participants.
In conclusion, ZIP 49411 offers a balanced environment for Section 8 investments, with a manageable number of renters and a significant gap between market rents and FMR rates. Both passive and active investors can find this area conducive to their investment strategies.
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.