Location: Antrim County, MI | Metro: Kalkaska 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 | $850 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $205,937 | 0.54% | F |
| 3BR | $1,360 | $248,237 | 0.55% | F |
| 4BR | $1,610 | $280,268 | 0.57% | F |
U.S. Census Bureau data (2024)
13.7% of residents in ZIP code 49659, Mancelona, MI, are renters, indicating a modest demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,130, which represents the maximum amount Section 8 voucher holders can pay for housing. However, the actual market rent, based on Census ACS data, stands at $856, suggesting that landlords participating in the Section 8 program could see a higher rental income compared to the local market rate. This discrepancy between the FMR and market rent presents an opportunity for landlords to potentially increase their cash flow.
The median home value in the area is $201,247, which is relatively low compared to national averages, making it an attractive location for property investment. With a median income of $62,308, there is a clear affordability gap that Section 8 vouchers help bridge, allowing more residents to find suitable housing. The low price-cut share of 0.2% indicates that properties in Mancelona are generally priced appropriately for the market, reducing the risk of significant price reductions.
Despite the lack of specific data on days on market (DOM), the combination of a reasonable FMR, lower market rents, and a supportive Section 8 program suggests that landlords can expect steady occupancy rates. The program's structure ensures a consistent income stream, as the government covers the difference between the tenant's contribution and the FMR, up to $1,130.
In conclusion, the data paints a favorable picture for landlords and small-portfolio investors looking to enter the Mancelona, MI, market. The potential for higher rental income relative to the local market, combined with the support of the Section 8 program, makes it a viable option for those seeking stable returns. Verdict: Section 8 participation in Mancelona, MI, is recommended for landlords seeking a reliable source of income.
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.