Location: Mackinac County, MI | Metro: Chippewa County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
ZIP code 49719, located within the Mackinac County, MI metro, has a Fair Market Rent (FMR) of $1,030 for fiscal year 2026. This figure is notably higher than the market rent of $796, indicating that while the government benchmark suggests higher rental costs, actual market conditions reflect lower rents. The median home value in ZIP 49719 stands at $305,223, which is indicative of a middle-class residential area.
The renter share in ZIP 49719 is 16.6%, slightly above the average for Mackinac County. Typically, a higher renter share can signal an area where renters, including those receiving Section 8 assistance, find housing more affordable compared to owning. However, the discrepancy between the FMR and the actual market rent does not necessarily suggest that this ZIP is a prime location for Section 8 tenants, as the FMR is designed to reflect a broader, more conservative estimate of rental costs.
Given the specific figures, ZIP 49719 appears to be a mid-tier neighborhood within its metro. It does not exhibit characteristics of a value pocket, where both market rent and home values would be significantly below average, nor does it align with a premium sub-market, where both would be substantially higher. Instead, the combination of a moderate home value and a slightly elevated renter share points toward a balanced market suitable for a mix of homeowners and renters.
A divergence worth noting is the gap between the FMR and the actual market rent. This could indicate that landlords have some flexibility in setting rents below the government benchmark without sacrificing profitability. For small-portfolio investors, this might present an opportunity to offer competitive rental rates while still achieving reasonable returns on investment.
In conclusion, ZIP 49719 represents a middle-ground option within the Mackinac County, MI metro, with neither exceptionally low nor high home values and market rents. Its slightly elevated renter share makes it a viable consideration for those interested in Section 8 tenancy, but it is not necessarily a standout location for such investments.
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.