Location: Mackinac County, MI | Metro: Mackinac County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
32.1% of residents in ZIP 49781 are renters, indicating a significant demand for rental properties in the area. With a $685 average market rent based on Census ACS data, landlords can expect to charge close to this figure for their units. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, which is higher than the current market rent, suggesting potential for modest rent increases. Landlords should be aware that the median income in ZIP 49781 is $64,152, meaning tenants will need to carefully manage their finances to afford rents near the FMR. Despite the strong rental market, the median home value stands at $226,264, providing insight into the overall property values and potential investment opportunities. However, it's important to note that there is no available data on the days on market (DOM) or the percentage of homes that have been listed with price cuts, which could affect the liquidity and pricing strategies for real estate investments. Given the higher FMR compared to the current market rent and the substantial proportion of renters, landlords and small-portfolio investors should consider the potential for positive cash flow and steady demand in ZIP 49781. The lack of specific data on DOM and price-cut shares does not detract from the overall attractiveness of the rental market. In conclusion, ZIP 49781 is a suitable location for Section 8 investments due to its favorable renter demographics and the gap between current market rents and the FMR.
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.