Location: Wexford County, MI | Metro: Grand Traverse County, MI HUD Metro FMR Area
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 | $1,030 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $287,633 | 0.43% | F |
| 3BR | $1,580 | $350,225 | 0.45% | F |
| 4BR | $1,630 | $413,336 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 49649, located in Kingsley, MI, within the Wexford County, MI metro, presents a unique set of characteristics that can be compared against typical ZIP codes in the county. With a Fair Market Rent (FMR) of $1,150 for fiscal year 2026, it sits above the market rent figure of $1,018, indicating a slight premium on rental properties. The median home value in ZIP 49649 is $342,775, which suggests that it is not among the most expensive areas in the county but also not at the lower end of the spectrum.
The renter share in ZIP 49649 stands at 17.0%, which is notably higher than many other ZIP codes in Wexford County. This elevated renter share, combined with a home value that is below the potential average for the county, could indicate that 49649 is a favorable area for landlords interested in Section 8 housing. Specifically, the higher percentage of renters coupled with below-average home values often signifies an attractive opportunity for Section 8 participants.
In terms of categorizing ZIP 49649 within the Wexford County, MI metro, it leans towards being a mid-tier neighborhood. It's neither the highest nor the lowest in terms of rental costs and home values. However, its relatively high renter share makes it stand out as a potentially valuable pocket for those looking to engage in affordable housing programs such as Section 8.
To summarize, ZIP 49649 offers a balance between affordability and demand for rental properties, making it a solid option for landlords and small-portfolio investors. Its slightly elevated FMR compared to the market rent and a significant renter share suggest that it is a sweet spot for Section 8 investments, particularly given its home values that are likely below the county average.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.