Location: Emmet County, MI | Metro: Antrim County, MI
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 | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $342,640 | 0.43% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 49713 hinges on the interplay between its rental yield potential and the stability of its housing market. With a Fair Market Rent (FMR) of $1,040 for the fiscal year 2026, compared to a market rent of $930, there is an opportunity for higher yields through Section 8 participation. The median home value stands at $341,146, which is significantly above the FMR, indicating that traditional market rents might not cover the mortgage and maintenance costs effectively.
On the stability axis, the data paints a picture of a moderately stable market. The percentage of renters is relatively low at 12.8%, suggesting a preference for homeownership in the area. However, the lack of data on days on market (DOM) makes it challenging to assess how quickly properties are turning over, which could indicate either a robust demand or a less competitive rental environment. The median household income of $82,563 provides insight into the economic health of the area, supporting the notion that tenants can afford their rent payments.
To determine whether 49713 is a high-yield/low-stability flip-style market or a steady-cashflow zone, we must weigh these factors. The disparity between the FMR ($1,040) and the market rent ($930) suggests a higher potential yield when utilizing Section 8 vouchers. This aligns with the characteristics of a high-yield market. However, the low percentage of renters and the absence of DOM data hint at a lower level of volatility, which is typically associated with stability.
Given these specifics, ZIP code 49713 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. Landlords and small-portfolio investors can expect consistent returns, albeit not exceptionally high, due to the reasonable income levels and the likelihood of tenants maintaining their rental obligations. The higher FMR versus market rent does provide an incentive for participating in Section 8 programs, but the overall market conditions suggest a balanced approach where stability is prioritized alongside yield.
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.