Location: Muskegon-Norton Shores, MI | Metro: Muskegon-Norton Shores, MI MSA
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 | $1,090 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $239,960 | 0.62% | D |
| 3BR | $1,780 | $299,499 | 0.59% | F |
| 4BR | $1,960 | $372,093 | 0.53% | F |
| 5BR | $2,274 | $498,945 | 0.46% | F |
U.S. Census Bureau data (2024)
The market in ZIP 49445, Michigan, presents a dynamic equilibrium between supply and demand. With a Fair Market Rent (FMR) of $1160 for fiscal year 2024 and a market rent of $1,154 based on Census American Community Survey (ACS) data, it's clear that rental prices are closely aligned with government benchmarks. This suggests a stable rental market, where landlords can expect to maintain their income levels without significant fluctuations.
The low price-cut share of 0.2% indicates that properties are generally selling at or near asking price, a sign that demand is robust enough to support current pricing without the need for discounts. The days on market (DOM) figure of 29 days further supports this, showing that homes are selling relatively quickly, which is indicative of a healthy buyer interest.
A median home value of $290,318 places ZIP 49445 within an affordable range for many potential buyers, contributing to the strong demand observed. However, the 10.2% renter share is noteworthy. While this percentage is relatively low, it signals a community preference for homeownership. This could imply long-term stability in housing values, as a higher proportion of residents are likely to be invested in maintaining property quality and neighborhood conditions.
However, the low renter share also suggests that there might be limited opportunities for rental investments compared to areas with higher percentages of renters. For landlords and small-portfolio investors, this means focusing on quality and efficiency to attract tenants in a market where homeownership is favored. The quick turnover of properties and the alignment of rental prices with FMRs indicate that the area is well-managed and attractive to both buyers and renters.
In summary, ZIP 49445 appears to be a market where demand meets supply effectively. Rental prices are stable, and sales occur swiftly, reflecting a balanced environment. The low renter share points to a preference for homeownership, which could offer long-term benefits in terms of housing stability but also limits the scale of potential rental investment opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.