Location: Antrim County, MI | Metro: Antrim 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 | $940 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $288,845 | 0.43% | F |
| 3BR | $1,470 | $357,062 | 0.41% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 49622, located in Central Lake, Michigan, within Antrim County, can be dissected into several key components. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is set at $1,250. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards rent for such a unit.
In contrast, the local market rent for a similar two-bedroom apartment, according to the Census ACS data, averages around $1,000. This lower market rate means that landlords in ZIP 49622 could potentially receive a higher payment from the Section 8 program than they would from market rents, but it also introduces complexities regarding tenant contributions and utility allowances.
A voucher holder is typically responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income for a household eligible for Section 8 assistance, the tenant's portion of the rent could be calculated. For example, if the average adjusted income is $1,500, the tenant would contribute $450 (30% of $1,500) towards rent. Additionally, there are utility allowances which vary by region and can add up to another few hundred dollars per month.
The utility allowance in this area is set at $300. Therefore, when a landlord factors in both the tenant's contribution and the utility allowance, the total monthly reimbursement from the Section 8 program would be $1,250 (SAFMR) + $300 (utility allowance) - $450 (tenant's portion) = $1,100.
This calculation shows that even though the SAFMR is higher than the local market rent, the actual reimbursement a landlord receives is slightly above the average market rate. However, the reimbursement gap or surplus is minimal in this case, as the total reimbursement of $1,100 is only $100 above the local market rent of $1,000.
Landlords should note that while the SAFMR provides a fixed upper limit for rent, the actual amount received can vary based on the tenant's income and the specific utility costs. Nonetheless, the economics suggest a slight surplus for landlords participating in the Section 8 program for two-bedroom units in ZIP 49622, making it a viable option for those looking to stabilize their rental income with government-backed support.
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.