Location: Oceana County, MI | Metro: Oceana 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 | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $235,997 | 0.52% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 49455 stands at $63,621, which places significant constraints on households looking to afford housing at the market rate of $694 per month. This discrepancy highlights an affordability gap where the average renter's budget is already strained before reaching the market rate, let alone the higher Fair Market Rent (FMR) standard set at $970 per month for metro areas in fiscal year 2026.
In ZIP 49455, with a total population of 5,429 and 21.4% of residents being renters, the competition among landlords is likely to be intense. The fact that the median income is lower than both the market rate and the FMR suggests that many renters will struggle to find affordable housing without assistance. As a result, landlords who accept Section 8 vouchers could benefit from a larger pool of potential tenants who qualify for the government-subsidized rental payments.
The takeaway for landlords considering their strategy regarding voucher acceptance versus cash-paying tenants is clear. Accepting vouchers at the FMR rate of $970 can provide a steady and reliable source of income, even if it means accepting a slightly lower rent than the market rate of $694. Given the financial pressures faced by many renters in ZIP 49455, the ability to offer subsidized housing through vouchers could be a competitive advantage in attracting and retaining tenants.
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.