Section 8 Fair Market Rent (FMR) for ZIP 49796 - 2027

Location: Charlevoix County, MI | Metro: Charlevoix County, MI

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$840
1 Bedroom	$890
2 Bedrooms	$1,170
3 Bedrooms	$1,540
4 Bedrooms	$1,640
5 Bedrooms	$1,902
6 Bedrooms	$2,130
7 Bedrooms	$2,300
8 Bedrooms	$2,415

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

359

Median Household Income

$87,434

Housing Units

304

Renter Percentage

14.1%

Occupancy Rate

53.6%

Renter Occupied

The ZIP code 49796, located in the affluent region of West Michigan, is characterized by high-end residential properties and a strong demand for housing. The area is known for its scenic landscapes and proximity to key economic centers, making it attractive for both homeowners and renters.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,110.
The median home value in ZIP 49796 is notably high at $920,482, reflecting the premium on property in this sought-after location.
Renters make up 14.1% of the total population, indicating that while homeownership is prevalent, there is still a significant rental market presence.
The median income for residents in this ZIP code is $87,434, suggesting that tenants have the financial capacity to meet higher rental rates.
Due to limited data availability, the exact days on market (DOM) for rental listings cannot be provided, but the high median income and low vacancy rate imply a competitive rental market.
The lack of specific market rent data indicates that the rental market might not be as active as the home purchase market, yet the FMR provides a benchmark for rental pricing expectations.

In summary, ZIP 49796 presents a robust investment opportunity for landlords and small-portfolio investors. With a median home value exceeding $900,000 and a median income above $87,000, the area supports high rental rates. Despite the relatively low percentage of renters, the strong economy and high FMR suggest that rental properties can command premium prices. Landlords should focus on maintaining quality standards and leveraging the area's appeal to attract tenants willing to pay higher rents.

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.