Location: Holland-Grand Haven, MI | Metro: Holland-Grand Haven, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The ZIP code 49430 is situated in a predominantly owner-occupied neighborhood with a total population of 14. Notably, there are no reported renters within this area, indicating a strong preference for homeownership. The lack of data on median income and median home value suggests that the area may have limited diversity in terms of economic status or housing types, possibly consisting of a homogenous group of residents.
Despite the low number of renters, the Fair Market Rent (FMR) for ZIP 49430 in fiscal year 2024 is set at $1260. This figure represents the government's estimate of what a landlord can charge for a rental unit under the Section 8 program. However, the absence of market rent data makes it challenging to compare the FMR against actual local rental rates, leaving uncertainty about how competitive or realistic the FMR is in this specific context.
Given the characteristics of ZIP 49430, it would be difficult for a hands-off voucher operator to find suitable opportunities. The nearly non-existent rental market means that there are few properties available to manage under a Section 8 program without active involvement in converting owner-occupied homes into rental units. For a hands-on value-add buyer, however, this ZIP code could present an interesting challenge. With a small population and a strong homeownership base, the potential to develop rental properties that cater to the needs of Section 8 tenants could be significant, but it would require a deep understanding of the local market and a willingness to engage actively in property conversion and management.
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.