Location: Chippewa County, MI | Metro: Chippewa County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 49726, as set by the U.S. Department of Housing and Urban Development for metro fiscal year 2026, is $1,060. This figure represents the payment standard for Section 8 rental assistance in this area. It is important to note that this is not the amount you will receive as rent but rather the maximum amount the housing authority will pay on behalf of eligible tenants.
In comparison, the average rent in ZIP 49726, based on Census American Community Survey data, is $408 per month. This means that the FMR is significantly higher, at approximately $652 more than the local average. This discrepancy can be beneficial for landlords who want to ensure they receive a competitive rate that covers costs and provides a profit margin.
The renter share in ZIP 49726 is 5.7%, indicating a moderate demand for rental properties. While this percentage might seem low, it translates into a substantial number of potential tenants given the population size. The demand for affordable housing is strong, and Section 8 can help fill this need while providing a steady income source for landlords.
To acquire a property in this ZIP code, you should expect to pay around $232,486, which is the median home value. This investment can be worthwhile if you are willing to participate in the Section 8 program, as it ensures a stable tenant and predictable income, even if it is slightly below market rates.
Before deciding to enter the Section 8 market with your first rental property in ZIP 49726, verify that your property meets the minimum housing quality standards known as Housing Quality Standards (HQS). These standards are designed to ensure that rental units are safe, decent, and sanitary for tenants. Failure to meet these requirements can result in disqualification from the program.
By participating in Section 8, you are committing to a long-term relationship with the housing authority and your tenants. However, the benefits include a guaranteed income stream and reduced vacancy rates. The FMR of $1,060 is designed to cover the majority of rental costs, making it a viable option for those looking to invest in this ZIP code.
Remember, the FMR is just one part of the equation. Landlords also receive a portion of the tenant's contribution, which is typically 30% of their adjusted income. This additional payment can bring the total rent received closer to market rates and provide a more complete picture of the financial viability of your investment.
In summary, the FMR of $1,060 in ZIP 49726 offers a clear benchmark for landlords interested in Section 8. It exceeds the local average rent of $408, ensuring a competitive rate. With a median home value of $232,486 and a 5.7% renter share, there is a solid foundation for demand. Ensure your property meets HQS to avoid any issues and secure a steady income stream.
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.