Location: Oceana County, MI | Metro: Oceana County, MI
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 49446, as set by the U.S. Department of Housing and Urban Development for the fiscal year 2026, is $970. This figure represents the payment standard for Section 8 housing vouchers in the area, which is the amount that voucher holders can receive to cover their rent. However, it's important to note that this is not the rent you will charge your tenants; rather, it's the maximum amount that the government will pay towards the rent.
To put this into perspective, the average rent in ZIP 49446, according to the latest Census American Community Survey data, is $744. This means that the FMR is higher than the typical rent in the area, which could be beneficial for landlords who are considering entering the Section 8 program. The difference between the FMR and the average rent can provide a buffer for landlords, ensuring they receive a fair compensation even if the market rate is lower.
The 13.2% renter share indicates that a significant portion of the population in ZIP 49446 relies on renting as their primary form of housing. This suggests a steady demand for rental properties, including those participating in the Section 8 program. With an acquisition cost of approximately $243,558 for a property in this area, the potential for long-term, stable occupancy is high, making it a worthwhile investment for landlords and small-portfolio investors.
Before deciding to accept Section 8 tenants, there is one crucial step you should take: verify the eligibility of the property. Ensure that your rental unit meets the necessary criteria such as being structurally sound, having adequate amenities, and passing any required inspections. This verification will confirm that your property is suitable for the program and that you can comply with the standards set by the government.
In summary, the FMR of $970 offers a reliable benchmark for compensation in the Section 8 program, surpassing the local average rent of $744. Given the 13.2% renter share and the acquisition cost of around $243,558, there is a solid foundation for demand and investment in ZIP 49446. By confirming your property's eligibility, you can confidently proceed with your first Section 8 rental.
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.