Location: Presque Isle County, MI | Metro: Presque Isle County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 49743 stands as a market in motion, characterized by a snapshot that reveals several key dynamics. The Fair Market Rent (FMR) for the area is set at $970 for fiscal year 2026, indicating the government's benchmark for rental affordability. However, the absence of current market rent data suggests a lack of recent activity or reporting in this sector, which could be due to various factors including a stable market or limited transaction volume.
A median home value of $215,612 provides insight into the overall housing cost in the region. This figure is crucial for understanding the typical investment value and resale potential for homeowners. The fact that there is no available data on the percentage of homes that have been sold with a price cut or the number of days they spent on the market (DOM) implies that the housing market here might be relatively straightforward, without significant fluctuations or prolonged periods of unsold inventory.
The 3.3% renter share is notably low, suggesting that the majority of residents in ZIP 49743 own their homes rather than renting. This dynamic can indicate long-term stability and a strong sense of community, as homeownership often correlates with longer residency periods. Conversely, it also points to potential long-term housing pressure if the area becomes more attractive, leading to an increase in rental demand. Landlords and small-portfolio investors should monitor local trends closely to anticipate shifts in the balance between supply and demand.
In summary, ZIP 49743 presents a market where homeownership is predominant, and the lack of recent rental data might reflect a steady state or less active market. The FMR and median home values provide a baseline for assessing the economic landscape, but the low renter share signals a potential area of growth for rental investments as the market evolves.
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.