Location: Muskegon-Norton Shores, MI | Metro: Holland-Grand Haven, MI HUD Metro FMR Area
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $327,291 | 0.42% | F |
| 3BR | $1,740 | $380,255 | 0.46% | F |
| 4BR | $2,040 | $470,361 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 49448, located in Nunica, MI, has a population of 4,374 residents, with only 11.5% being renters. This indicates that the area is primarily dominated by homeowners rather than renters. The median household income stands at $86,458, which is significantly higher than the average market rent of $778.
To put this into perspective, the typical rent consumes approximately 9.0% of the local median income. This is calculated by dividing the average market rent ($778) by the median household income ($86,458) and multiplying by 100. In comparison, the Fair Market Rent (FMR) for the area is set at $1,040 (for FY 2024), which represents about 12.0% of the median income. This suggests that the actual market rents are below the federally determined fair market level, indicating a relatively affordable rental market.
Given the low percentage of renters and the higher median income, it's unlikely that there is a deep voucher demand in this ZIP code. The limited number of renters means that the overall demand for rental properties is lower, and thus the demand for Section 8 vouchers is also likely to be less pronounced.
A landlord in ZIP 49448 can expect tenants who are likely to have a stable financial background, given the high median income relative to the rent prices. However, the low percentage of renters implies that finding tenants might be slightly more challenging compared to areas with a higher concentration of renters. Landlords should be prepared to compete on price and quality to attract tenants in this market.
In conclusion, while the area offers affordable rents for those who do choose to rent, it is not a renter-heavy ZIP code. The typical rent eats up a smaller portion of the local income compared to the FMR, suggesting an environment where tenants are financially capable but where the competition for rental units is not as intense as in more densely populated areas.
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.