Location: Muskegon-Norton Shores, MI | Metro: Holland-Grand Haven, MI HUD Metro FMR Area
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 | $1,060 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $269,798 | 0.54% | F |
| 3BR | $1,740 | $336,010 | 0.52% | F |
| 4BR | $2,040 | $409,027 | 0.5% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP 49415 (Fruitport, MI) for Section 8 purposes, follow these steps:
Step 1: Does the Fair Market Rent (FMR) of $1120 cover the debt service on a $326,225 property?
No. The FMR of $1120 is unlikely to cover the debt service on a property valued at $326,225. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. For a property of this value, monthly debt service would likely exceed $1120, making it difficult to break even without additional income sources or subsidies beyond the FMR.
Step 2: Is the market rent of $1,109 above, at, or below the FMR?
Below. The market rent of $1,109 is slightly below the FMR of $1120 for the area. This indicates that the rental market is relatively stable and competitive, but also suggests that landlords might struggle to command rents significantly higher than the FMR. However, this slight difference does not necessarily preclude profitability if operating costs are low.
Step 3: Are 5.9% renters and N/A-day days on the market (DOM) indicative of sufficient demand?
It depends. With only 5.9% of the population being renters, the demand for rental properties in Fruitport, MI is relatively low. Additionally, the lack of data on days on the market (DOM) means we cannot accurately assess how quickly rental units are being filled. If the number of available Section 8 vouchers is high relative to the number of renters, this could create a competitive environment where landlords must meet or exceed the FMR to secure tenants. Conversely, if there are fewer vouchers than needed, landlords might find it challenging to attract Section 8 tenants despite offering competitive rents.
In conclusion, purchasing a property in ZIP 49415 for Section 8 investment requires careful consideration. The FMR does not appear to sufficiently cover the debt service on a $326,225 property, and the market rent is just below the FMR. The low percentage of renters in the area adds another layer of complexity, as does the absence of DOM data. Landlords should thoroughly evaluate their ability to manage costs and understand the local Section 8 voucher landscape before deciding to invest.
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.