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 49728, set at $1,070 for metro fiscal year 2026, is the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing assistance program. This figure does not represent the total rent you can charge your tenant; it's the maximum amount HUD will pay toward the rent on behalf of the assisted family.
In ZIP 49728, there isn't a specific local rent figure provided for comparison, but we know that 11.4% of the population are renters. This indicates a moderate level of rental demand in the area, meaning there are opportunities for landlords, but also competition.
The acquisition cost for properties in this area is not specified, which makes it challenging to provide a direct comparison between the FMR and the potential purchase price of a rental property. However, it's important to note that the FMR does not account for all operating costs, such as maintenance, utilities, and insurance. Landlords should ensure that the rent they set, in addition to the HUD subsidy, covers these expenses and provides a profit margin.
To participate in the Section 8 program, your rental unit must meet certain criteria, including being safe, decent, and sanitary. Before deciding to enroll your property, verify that the rent you propose, beyond the $1,070 FMR, is reasonable and competitive with other non-assisted rentals in the area. This ensures you attract tenants while maintaining profitability.
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.