Location: Wexford County, MI | Metro: Manistee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 properties in ZIP code 49625 presents several challenges that must be carefully considered. Firstly, tenant turnover poses a significant risk due to the disparity between the market rent of $1,208 and the Fair Market Rent (FMR) of $1,060 for fiscal year 2026 in the metropolitan area. This gap can lead to higher vacancy rates as tenants may struggle to afford the required portion of the market rent.
Vacancy exposure is another critical concern, especially since the days on market (DOM) is not available. In a market where homes typically cost around $236,230, and the median income stands at $52,583, there is a substantial risk of deferred maintenance. Landlords may find themselves investing additional funds into property upkeep to meet Section 8 standards, which can strain cash flows if not planned for.
However, these risks are somewhat mitigated by the high concentration of renters in the area, with 8.1% of the population being rent-bound. High renter density generally translates to greater demand for housing vouchers, which can stabilize occupancy and provide a steady stream of income. The local economy supports a robust rental market, and the presence of numerous potential voucher holders reduces the likelihood of prolonged vacancies.
In summary, despite the risks associated with tenant turnover and deferred maintenance, the strong renter base and potential for consistent voucher-based occupancy make ZIP 49625 a moderate risk area for first-time Section 8 landlords.
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.