Location: Chippewa County, MI | Metro: Chippewa County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49788 within the Chippewa County, MI metro area reveals several key points for landlords and small-portfolio investors.
The rent math does not favor landlords. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,090, while the current market rent based on Census ACS data stands at $854. This discrepancy means that landlords will need to adjust their expectations or find ways to increase their rental rates to meet the FMR, which could be challenging given the current market conditions.
Acquisition costs are relatively low in this ZIP code. With a median home value of $99,262, purchasing properties here can be seen as an affordable opportunity compared to other areas. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that there might be limited insights into the typical time it takes to sell a property and the frequency of price reductions. This uncertainty could pose risks for potential acquisitions.
Tenant demand appears to be stable. The ZIP code has a total population of 2,841, with 52.7% of residents being renters. This high renter share indicates a consistent pool of potential tenants, which is favorable for maintaining occupancy rates.
Verdict: While the median home value makes acquisitions in ZIP 49788 affordable, the current market rent is below the FMR, indicating a challenge in achieving optimal rental income. The high renter share supports steady tenant demand, but landlords must carefully consider their pricing strategies to balance profitability with market realities. Given the limited data on DOM and price-cut percentages, further investigation into local real estate trends is advisable before making investment decisions.
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.