Location: Oceana County, MI | Metro: Newaygo County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 49459 in metro FY 2026 is set at $1,130. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It does not mean that tenants will pay $1,130; rather, it's the maximum amount the program will reimburse landlords for rent.
In comparison, the average rent in ZIP 49459, based on recent Census American Community Survey (ACS) data, is $867. This indicates that the FMR is higher than the local average, which can be beneficial for landlords who might otherwise receive lower rents from market rates.
The 13.2% share of renters in the area suggests there is a moderate demand for rental properties. However, landlords should note that the Section 8 program serves low-income families, so the demand will be concentrated among those eligible for assistance.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 49459 is around $177,820. This gives you an idea of the potential acquisition cost, but remember that property values can vary widely depending on condition, location, and other factors.
Before committing to a Section 8 rental, verify that your property meets the minimum housing quality standards known as Housing Quality Standards (HQS). These ensure that the unit is safe, decent, and sanitary for tenants. Failure to meet these standards can result in reduced payments or even termination of the lease agreement.
To summarize, the FMR of $1,130 offers a stable income source for landlords in ZIP 49459, where the average rent is $867. With a 13.2% renter share, there is demand, but it's crucial to ensure your property complies with HQS requirements to avoid issues.
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.