Location: Mason County, MI | Metro: Mason 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 | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $224,666 | 0.6% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 49454 stands at $61,280, which places significant constraints on the financial capacity of households to cover the market rent rate of $813 per month. This means that the average household would need to allocate a substantial portion of their income towards rent, potentially leaving little room for other essential expenses.
Comparatively, the Fair Market Rent (FMR) set by the government for metro areas in fiscal year 2026 is $970, which is higher than the current market rate. However, this figure represents the standard payment amount for housing vouchers, indicating that voucher recipients might have additional resources to pay more than the typical market rate.
With only 21.9% of the 4,873 population being renters, competition among landlords is likely to be fierce. The affordability gap between the median income and both the market rate and the FMR suggests that many potential tenants could struggle to find affordable housing without assistance. This scenario presents an opportunity for landlords who are willing to accept housing vouchers.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: while cash-paying tenants might offer less administrative hassle, the higher payment standard of vouchers ($970) compared to the current market rate ($813) can provide a more stable and predictable income source. Additionally, accepting vouchers can help landlords tap into a segment of the rental market that might otherwise be unable to afford housing in ZIP 49454, thereby reducing vacancy rates and increasing occupancy stability.
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.