Location: Benzie County, MI | Metro: Benzie County, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 49628, located in a county with only 174 residents, stands out due to its extremely low population density. With just 4.3% of the residents renting their homes, it's clear that homeownership is the predominant form of housing in this area. Despite the lack of data on median home values, the median income of $114,375 suggests that residents have the financial capability to purchase homes, which could explain the low rental rate.
Regarding the Section 8 voucher program, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,110. However, the absence of market rent data makes it challenging to assess how competitive these voucher amounts are. Given the high median income and the low number of renters, it's possible that the demand for Section 8 vouchers is minimal, but without specific market rent figures, this remains speculative.
The data signature for ZIP 49628 reads as stable. The high median income indicates a financially secure community, and the low percentage of renters suggests a strong preference for homeownership. This stability, however, does not provide a complete picture due to the lack of median home value and market rent data. For landlords and small-portfolio investors considering this ZIP code, it's essential to gather additional local market insights to make informed decisions.
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.