Section 8 Fair Market Rent (FMR) for ZIP 49648 - 2027

Location: Antrim County, MI | Metro: Antrim County, MI

Investment Score for ZIP 49648

N/A

Monthly Rent (2BR)

$1,530

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,160
1 Bedroom	$1,270
2 Bedrooms	$1,530
3 Bedrooms	$1,820
4 Bedrooms	$2,260
5 Bedrooms	$2,622
6 Bedrooms	$2,937
7 Bedrooms	$3,172
8 Bedrooms	$3,331

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,820	$744,612	0.24%	F
4BR	$2,260	$1,328,482	0.17%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,577

Median Household Income

$93,272

Housing Units

2,090

Renter Percentage

14.4%

Occupancy Rate

57.3%

Renter Occupied

172

ZIP code 49648, located in Grand Traverse County, Michigan, is characterized by a robust local economy and a mix of suburban and rural landscapes, offering both residential tranquility and proximity to urban amenities. The area is popular among retirees and families alike, due to its quality of life and natural beauty.

The Fair Market Rent (FMR) for ZIP 49648 as of the fiscal year 2026 is set at $1,520. This figure represents the maximum amount that low-income households should pay for housing, providing a benchmark for rental pricing.
The average market rent for the area, according to the latest Census American Community Survey (ACS), stands at $1,300. This indicates a slightly lower actual rent compared to the FMR, suggesting potential room for price increases.
The median home value in ZIP 49648 is $815,328. This high median value reflects the desirability of the area and can influence property appreciation rates over time.
Renters make up 14.4% of the population in this ZIP code. While this percentage is relatively low, it still presents a viable market segment for landlords and investors focused on rental properties.
The median household income in the area is $93,272. This financial stability among residents supports a strong rental market and can contribute to timely rent payments.
Note that the Days on Market (DOM) statistic is currently N/A, which means there isn't enough recent data to provide insights into how quickly homes are selling in this area.

Investors looking to enter the ZIP 49648 market can expect a stable environment with potential for growth, especially in rental properties. With the FMR exceeding the current market rent, there's an opportunity to adjust pricing upwards without deterring tenants. The high median home value suggests long-term capital appreciation potential, while the median income level provides assurance of a financially secure tenant base. However, the lack of DOM data means caution should be exercised when evaluating the speed at which properties might sell if the investment strategy includes eventual resale. Overall, the area offers a balanced approach for those interested in both rental income and property value appreciation.

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.