Location: Menominee County, MI | Metro: Menominee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The ZIP code 49812 hosts a population of 801 individuals, with only 11.2% of them being renters. This indicates that the area is primarily dominated by homeowners rather than renters, which suggests that the demand for rental properties using Section 8 vouchers might be relatively low. The median household income in this region is $51,250, providing a baseline for assessing affordability.
A typical market rent of $900 in this ZIP code represents approximately 17.5% of the median household income. This percentage is calculated by dividing the monthly rent by the annual median income ($900 / $51,250 * 12 months), revealing how much of their income residents would need to allocate towards rent. In comparison, the Fair Market Rent (FMR) set at $1,380 for FY 2026 in the metropolitan area is significantly higher, indicating that the local market rent is below the FMR threshold, which could make it easier for landlords to attract Section 8 tenants who often have caps on the rent they can afford.
Landlords in ZIP 49812 should expect tenants who rely on Section 8 vouchers to be part of a smaller segment of the population. These tenants will likely have limited financial resources, given the median income level, and will be sensitive to the cost of living. The $900 rent is affordable for many households, as it falls below the 30% guideline for housing costs recommended by the Department of Housing and Urban Development (HUD).
To summarize, while there is a presence of renters in ZIP 49812, the majority of the population owns homes. For those who do rent, the $900 market rent is a manageable expense relative to the median income. Landlords should prepare for a tenant base that requires careful management of finances and may benefit from the lower market rents compared to the higher FMR standards set by HUD.
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.