Location: Otsego County, MI | Metro: Otsego County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
The Fair Market Rent (FMR) for ZIP code 49734 in Unknown, MI, is set at $1,100 for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers in the area. It's important to note that this is not the amount tenants will pay for rent; rather, it's the maximum amount that the Housing Authority will pay on behalf of eligible tenants.
Local average rents are currently listed as N/A. However, the percentage of residents who are renters in this area is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there is demand for rental properties, particularly those that accept Section 8 vouchers.
The acquisition cost for properties in ZIP 49734 is also noted as N/A. While this data point is missing, it's crucial for potential landlords to understand that the FMR serves as an upper limit. Tenants contribute a portion of their income towards rent, typically around 30%, with the voucher covering the remainder up to the FMR.
To ensure you're making an informed decision, verify that your property meets all the necessary requirements set by the Housing Authority, including safety, health, and habitability standards. This is a critical step before participating in the Section 8 program.
Data Sources: FMR data from HUD (2027).
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.