Location: Oceana County, MI | Metro: Muskegon-Norton Shores, MI MSA
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 | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $211,327 | 0.53% | F |
| 3BR | $1,410 | $272,191 | 0.52% | F |
| 4BR | $1,480 | $326,839 | 0.45% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 49412, located in Fremont, MI, within the Oceana County, MI metro area, does not favor landlords. The Fair Market Rent (FMR) set at $1070 for fiscal year 2024 is significantly higher than the actual market rent of $790 as reported by the Census ACS. This discrepancy suggests that landlords might struggle to charge rents that meet the FMR, especially if they base their pricing on market conditions.
Acquisition of properties in this ZIP code is relatively affordable. With a median home value of $262,154, purchasing homes here is within reach for many investors. However, the lack of data on days on market (DOM) and the low percentage of homes needing price cuts (0.2%) indicate a stable but not highly dynamic market. Investors should expect competition and potentially longer periods to find a property at an attractive price point.
Tenant demand in ZIP 49412 is moderate. The total population stands at 12,097, with 17.0% of residents being renters. This translates to approximately 2,056 potential tenants. While the number is not negligible, it's important to consider that a significant portion of the population owns their homes, which could limit the pool of available renters.
Verdict: ZIP 49412 presents a mixed opportunity for landlords and small-portfolio investors. The gap between the FMR and the actual market rent makes it challenging to achieve desired rental income levels. Property acquisition is feasible but may require patience due to a stable market with limited price adjustments. Tenant demand is present but not robust, given the high homeownership rate. Overall, investors must carefully balance their expectations against these realities to make informed decisions.
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.