Section 8 Fair Market Rent (FMR) for ZIP 49458 - 2027
Location: Mason County, MI | Metro: Mason County, MI
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$113,077
To determine if a landlord should invest in ZIP code 49458 for Section 8 properties, follow these decision points:
- Does the Fair Market Rent (FMR) of $1,030 cover the debt service on a property?
- If Yes: Proceed to the next question.
- If No: Do not purchase a property in this ZIP code for Section 8 tenants as the rental income will not be sufficient to meet financial obligations.
- Is the market rent above, at, or below the FMR of $1,030?
- If Above: The area has strong rental demand, but ensure that potential Section 8 tenants can afford higher rents. Consider the local economic conditions and employment rates.
- If At: The market rent aligns perfectly with the FMR, making it an ideal scenario for Section 8 investments. Landlords can expect stable cash flows without additional risks.
- If Below: The lower market rent suggests a weaker rental market. This could mean reduced competition for Section 8 tenants, but also indicates a need to carefully assess property management costs and potential vacancy rates.
- Are the 6.8% of renters combined with the days on market (DOM) sufficient to meet demand?
- If Yes: The percentage of renters and the DOM indicate a balanced market where there is enough demand to support Section 8 units. Landlords can expect steady occupancy rates.
- If No: The low percentage of renters or high DOM suggests insufficient demand. Landlords may face difficulties in filling vacancies or maintaining a steady tenant turnover rate.
- If It Depends: Evaluate the specific characteristics of the property and the neighborhood. High DOM might be due to seasonal fluctuations or specific property issues rather than overall market conditions.
Note: Due to the lack of specific data on market rent and DOM, some decision points cannot be definitively answered. However, the outlined framework provides a structured approach to assessing the viability of Section 8 investments in ZIP 49458 based on available metrics.
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.