Location: Grand Rapids-Wyoming, MI | Metro: Grand Rapids-Wyoming, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,760 |
| 5 Bedrooms | $3,202 |
| 6 Bedrooms | $3,586 |
| 7 Bedrooms | $3,873 |
| 8 Bedrooms | $4,067 |
U.S. Census Bureau data (2024)
The rent math in ZIP 49525, part of the Grand Rapids-Wyoming, MI HUD Metro FMR Area, does not align perfectly with the Federal Market Rent (FMR) and the actual market conditions. The FMR for the fiscal year 2024 is set at $1,580. However, the market rent, as indicated by the Zillow Observed Rental Index (ZORI), stands at $1,688. This suggests that landlords may need to adjust their expectations, as the market rent exceeds the FMR by approximately $108 per month.
Regarding the affordability of acquisition, the median home value in ZIP 49525 is $378,170. With a 7-day Days on Market (DOM) average and a mere 0.2% share of homes experiencing price cuts, it indicates a relatively stable and efficient market for property purchases. Landlords can expect a quick turnaround on their investments without significant price adjustments.
Tenant demand is present but not overwhelming. The area has a total population of 30,887, with a renter share of 20.5%. This means that roughly 6,342 residents are potential tenants. While the number is modest, the stable rental market suggests that there is a steady demand for housing units.
In summary, while the rent math shows a slight mismatch between FMR and market rates, acquisitions remain affordable with a quick sales cycle and minimal price adjustments. Tenant demand is moderate but consistent, making ZIP 49525 a viable option for landlords and small-portfolio investors who are willing to accept a minor discrepancy between federal subsidies and market rents. The combination of these factors supports a cautiously optimistic outlook for investment in this area.
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.