Location: Holland-Grand Haven, 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 | $1,030 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,300 | $295,297 | 0.44% | F |
| 2BR | $1,480 | $319,112 | 0.46% | F |
| 3BR | $1,860 | $378,939 | 0.49% | F |
| 4BR | $2,210 | $478,967 | 0.46% | F |
| 5BR | $2,564 | $601,020 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP code 49417, located in Grand Haven, MI, falls within the Holland-Grand Haven, MI HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 49417 in fiscal year 2024 is set at $1200. This figure is indicative of the maximum rental amount that can be charged for a unit to be considered affordable under the Section 8 housing program.
Comparatively, the market rent for the same area is listed at $1,511. This suggests that while the FMR is lower than the actual market rates, landlords can still expect to receive a reasonable return on their investments if they participate in the Section 8 program. The discrepancy between the FMR and the market rent highlights the subsidy provided by the government to make housing more accessible.
The median home value in ZIP 49417 is $391,934. This places it slightly above the average home values seen across the Holland-Grand Haven metro area. However, the renter share, which stands at 21.1%, is noteworthy. A higher proportion of renters relative to homeowners indicates a demand for rental properties, which could be beneficial for landlords looking to attract tenants through the Section 8 program.
Based on these figures, ZIP 49417 appears to be a mid-tier neighborhood within the Holland-Grand Haven metro area. The FMR is significantly lower than the market rent, suggesting that there is a gap where landlords can offer competitive rents to Section 8 participants without necessarily undercutting the market. Additionally, the higher renter share combined with a median home value that is not excessively high may indicate a sweet spot for Section 8 investment, particularly for those interested in serving the rental market.
To further contextualize the position of ZIP 49417 within its metro, consider the following:
The key takeaway is that ZIP 49417 presents a balanced opportunity for landlords and small-portfolio investors interested in the Section 8 program, with a decent market rent and a notable renter share that aligns well with the FMR.
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.