Section 8 Fair Market Rent (FMR) for ZIP 49701 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$850
2 Bedrooms	$1,120
3 Bedrooms	$1,340
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, ZIP 49701, located in Emmet County, MI, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,040, while the median market rent is $865. This creates a positive spread of $175 between the FMR and the market rent, ensuring that landlords receive above-average rental income when their properties are occupied by tenants participating in the Section 8 program.

The median home value in ZIP 49701 is $319,609, which is relatively stable and does not indicate significant appreciation potential. Therefore, it is best suited for generating consistent cash flow rather than capital appreciation.

A cash-flow anchor is essential for any investment portfolio, providing a steady stream of income that can offset potential losses from other investments. In ZIP 49701, the higher Section 8 payment standard ensures that landlords can cover mortgage payments, maintenance costs, and other expenses, while still achieving a reasonable profit margin.

The 28.9% renter share suggests that there is a sufficient demand for rental properties, and the median income of $44,583 indicates that there are enough potential tenants who qualify for the Section 8 program. This makes ZIP 49701 a reliable choice for landlords looking to stabilize their cash flow.

To summarize, ZIP 49701 should be considered as a cash-flow anchor within a Section 8 portfolio strategy due to the positive spread between the FMR and market rent, along with a stable median home value and a substantial renter share. Landlords can expect to generate consistent income, which is crucial for long-term financial stability.

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.