Location: Oceana County, MI | Metro: Oceana County, MI
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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $248,666 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 49420 presents a dynamic rental market that is influenced by both the Federal Market Rent (FMR) and the actual market rent conditions. The FMR for this area stands at $980, which reflects the federal government's assessment of fair market rents for the fiscal year 2026. In contrast, the Census American Community Survey (ACS) indicates a market rent of $753, suggesting that current rents are below the projected fair market level. This discrepancy can be indicative of a market where demand might be catching up with supply, or it could simply highlight the conservative nature of FMR estimations compared to actual market conditions.
The median home value in ZIP 49420 is $214,487, providing insight into the overall cost of homeownership in the area. However, the lack of specific data on the percentage of price cuts and days on the market (DOM) means we cannot definitively state whether supply currently outpaces demand or vice versa. These metrics would typically help us understand the speed at which homes are selling and any trends towards price adjustments.
A notable figure is the 19.3% renter share, which suggests that nearly one-fifth of the population in ZIP 49420 is renting their homes. This statistic is crucial because it points to ongoing long-term housing pressure. With a significant portion of residents choosing or needing to rent, there is an inherent demand for rental properties. This demand can exert upward pressure on rental rates over time, especially if the number of renters continues to grow relative to the number of available units.
In summary, while specific supply-demand dynamics remain unclear due to missing data points, the combination of a lower-than-projected market rent and a substantial renter share suggests that ZIP 49420 is a market in transition. Landlords and small-portfolio investors should closely monitor these factors as they evolve, particularly focusing on how the actual market rent compares to the FMR as well as the changing balance between renters and homeowners. Such observations will provide valuable insights into the future trajectory of the rental market in this ZIP code.
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.