Location: Muskegon-Norton Shores, MI | Metro: Muskegon-Norton Shores, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49443, located within the Muskegon-Norton Shores, MI MSA metro area, reveals several key points for potential real-estate investments, particularly for those interested in Section 8 housing.
First, regarding the rent math, the Fair Market Rent (FMR) set at $1060 for fiscal year 2024 does not provide a direct comparison against the market rent due to the lack of available data. This suggests that the FMR is a benchmark figure landlords should meet to qualify for Section 8 tenancy, but without market rent figures, it's challenging to assess profitability beyond the subsidized rate.
Second, the acquisition affordability in ZIP 49443 cannot be fully evaluated as the median home value, days on market (DOM), and the percentage of homes needing price cuts are all listed as N/A. This absence of data indicates a need for further research into local real estate trends to determine if buying properties at a reasonable price is feasible.
Third, concerning tenant demand, the ZIP code has a population of 72, with the percentage of renters also listed as N/A. Given such a small population base, the number of potential tenants is limited, which could impact the availability of qualified Section 8 applicants. A thorough understanding of the local demographics and housing needs is essential to gauge demand accurately.
In summary, while the FMR provides a clear rental income target, the lack of comprehensive data on market rents, median home values, and the specifics of the real estate market makes it difficult to confidently recommend investment in ZIP 49443 for Section 8 properties. The low population count suggests limited tenant demand, which is a significant consideration for landlords and small-portfolio investors. Further investigation into the local real estate market and demographic details is advised before making any investment decisions.
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.