Location: Charlevoix 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 | $960 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,550 | $350,306 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 49729 stands out due to its unique demographic and economic characteristics. With a population of 1,470 residents, it has a relatively low rental rate of 13.9%, indicating that most of the community owns their homes. The median income in this area is $77,870, which is above the national average, suggesting a higher standard of living. The median home value is also quite high at $318,517, reflecting the overall wealth and property appreciation in the region.
When it comes to Section 8 voucher economics, the data reveals a significant disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $1,280, whereas the Census ACS indicates a market rent of only $890. This means that landlords accepting Section 8 vouchers can potentially receive higher rents compared to the local market, making it an attractive option for those who wish to stabilize their tenant base without sacrificing profitability.
The data signature for ZIP 49729 reads as stable. The high median home value and median income suggest a steady economy where property values are likely to remain consistent. Additionally, the low rental rate implies that there is less competition for rental properties, allowing landlords to maintain control over their pricing. While the gap between FMR and market rent presents an opportunity for landlords, it also underscores the importance of understanding the local housing market dynamics to make informed decisions about accepting Section 8 vouchers.
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.