Location: Mackinac County, MI | Metro: Mackinac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The analysis of ZIP 49762, located in Mackinac County, MI, reveals several critical points for landlords and small-portfolio investors.
The first question concerns the viability of rental income. The Fair Market Rent (FMR) for the area, set at $1,180 for the fiscal year 2026, does not have a corresponding market rent figure available. This makes it challenging to directly compare FMR against actual market rates, potentially indicating that the rent math is uncertain without additional data on local market conditions.
Regarding the affordability of property acquisition, the median home value stands at $190,428. However, the lack of data on the average number of days on market (DOM) and the percentage of homes sold with a price cut means that assessing the ease of acquiring properties at a fair price is limited. Landlords should proceed with caution until more detailed metrics become available.
The tenant demand in ZIP 49762 is relatively low, with a total population of 675 and only 6.5% of residents being renters. This suggests that there is a smaller pool of potential tenants compared to areas with higher renter shares, which could impact occupancy rates and the overall demand for rental housing.
Verdict: ZIP 49762 presents a mixed picture for real estate investment. While the median home value is low, making acquisitions potentially affordable, the uncertainty around market rents and the limited data on sales performance and tenant demand introduce significant risks. Investors must carefully weigh these factors before committing resources to this market, particularly given the small renter population. Due diligence is essential to understand local dynamics fully.
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.