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 | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $386,717 | 0.38% | F |
U.S. Census Bureau data (2024)
A decision tree for evaluating whether to invest in ZIP code 49436 for Section 8 properties begins with the Fair Market Rent (FMR) figure of $1,040, which is set for the metro area in fiscal year 2026. This amount must cover the debt service on a property valued at $322,181. If the FMR does not sufficiently cover the debt service, then the answer is No. However, if it does, proceed to the next question.
The second question is whether the market rent, which stands at $1,013 according to Census ACS data, is above, at, or below the FMR. If the market rent is above the FMR, this suggests that Section 8 properties will be less competitive in the rental market, leading to a No. Conversely, if the market rent is below the FMR, this indicates that Section 8 rents are higher than what the market offers, potentially making these properties attractive to landlords who can secure tenants, resulting in an It Depends. Specifically, it depends on the demand for rental properties and the ease of finding tenants.
The third consideration is the demand for rental properties. In ZIP 49436, 7.4% of residents are renters, and the days on the market (DOM) is listed as N/A. If the DOM is high, this would suggest low demand and make the investment less favorable, leading to a No. However, if the DOM is low or average, this indicates that there is sufficient demand to fill vacancies promptly, leading to an It Depends. It depends on how the landlord can manage the property and handle the specific requirements of Section 8 tenancy.
To summarize:
Note that the absence of DOM data introduces uncertainty into the analysis. A thorough understanding of the local rental market dynamics is crucial for making an informed decision.
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.