Location: Mackinac County, MI | Metro: Chippewa County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
13.9% of the population in ZIP 49760 are renters, indicating a significant demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,400, which is notably higher than the actual market rent of $1,083 reported by the Census ACS. This discrepancy suggests an opportunity for landlords to potentially increase their rents without significantly impacting occupancy rates.
$206,473 is the median home value in ZIP 49760, which can be used as a reference point for assessing property values and potential investment returns. However, the median income of $58,958 is relatively low compared to the median home value, making it challenging for residents to purchase homes outright and thus reinforcing the importance of rental options.
The lack of data on days on market (DOM) and the percentage of price-cut share indicates stability in the local real estate market. There is no indication of properties sitting unsold or needing frequent price adjustments, which is a positive sign for both new and existing investors.
Given the higher FMR compared to market rent, landlords in ZIP 49760 should consider participating in the Section 8 program. The program guarantees a steady stream of tenants and rent payments, even though the rent might be slightly below market rates. With the current economic conditions and the limited financial resources of many residents, the Section 8 program could be a reliable option for maintaining occupancy and cash flow.
The Section 8 verdict for ZIP 49760 is that participation in the program is advisable due to the high demand for affordable housing and the stability it provides in a market where income levels are lower than property values.
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.