Location: Missaukee County, MI | Metro: Missaukee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 49632 presents an interesting scenario for both renters and landlords. The median income for households here stands at $46,696. This means that the average renter has a monthly disposable income of approximately $3,891 after dividing the annual income by 12. However, the market rate for rent, according to the Census ACS, is $933 per month. This represents a significant portion of the monthly income, roughly 24%, leaving little room for other expenses.
Comparatively, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This indicates that the market rate is slightly below the FMR, but still presents a challenge for renters. The difference between the FMR and the actual market rate is minimal, suggesting that the rental market in ZIP 49632 is closely aligned with federal standards, yet remains somewhat unaffordable for the average household.
With only 8.6% of the 1,067 residents being renters, the competition among landlords is likely to be fierce. The limited number of renters means that landlords must cater to a smaller pool of potential tenants, which can drive down rental rates due to the oversupply of housing relative to demand. This tight market also suggests that affordability is a critical factor for renters, making it essential for landlords to consider the financial capabilities of their potential tenants.
For landlords considering voucher versus cash-pay strategies, the data points to a clear advantage in accepting vouchers. Given the affordability gap, many renters may struggle to pay market rates outright, leading them to seek assistance through housing vouchers. Vouchers, which typically cover the majority of rent, provide a stable and guaranteed income stream. While the voucher amount might be slightly higher than the market rate at $970, the security of consistent payments and the reduced risk of vacancy make it a prudent choice. Landlords who focus on attracting voucher holders could find themselves better positioned in this competitive market, ensuring steady occupancy and income.
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.