Location: Charlevoix County, MI | Metro: Charlevoix County, MI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $470,237 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 49782 stands out due to its unique demographic and economic characteristics. With a population of 732 residents, only 7.0% of whom rent their homes, this area has a predominantly owner-occupied housing market. The median income of $75,938 is relatively high, indicating a financially stable community. Furthermore, the median home value of $351,872 suggests that homeownership is both valued and attainable within this ZIP code.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. This figure contrasts sharply with the current market rent of $875, as reported by the Census Bureau's American Community Survey (ACS). Landlords in ZIP 49782 can leverage this discrepancy to attract tenants who benefit from Section 8 vouchers, effectively increasing their rental income above the local market rate. This opportunity is particularly appealing given the low percentage of renters in the area, which may indicate a potential for growth in the rental market.
The data signature for ZIP 49782 reads as "stable." Despite the relatively low rental rate, the high median income and median home value suggest that the community is financially secure. The gap between the FMR and the market rent provides a clear advantage for landlords participating in the Section 8 program. However, the low rental percentage could also imply a transitional phase where the rental market might be expanding, offering opportunities for landlords to capitalize on an emerging trend towards renting in this otherwise owner-occupied community.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.