Location: Dickinson County, MI | Metro: Dickinson County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
9.9% of the population in ZIP 49815 are renters, indicating a modest but steady demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,060, which provides a benchmark for rental pricing. Landlords should aim to keep their rents competitive yet profitable, aligning closely with this figure to ensure occupancy rates remain high. Given the median income of $63,854, tenants have a reasonable capacity to meet these rental costs, though it's important to consider other financial obligations they might have. The lack of data on median home values and days on market (DOM) suggests a focus on the rental market rather than homeownership in this area, which could be advantageous for investors looking to capitalize on rental opportunities. The absence of information regarding the percentage of price-cut share also implies that there isn't significant downward pressure on property prices, suggesting stability in the local real estate market. For small-portfolio investors, this ZIP code offers a predictable environment where rental income can be reliably forecasted based on the FMR. However, the reliance on FMR data without market rent specifics means that investors must stay informed about local rental trends to avoid underpricing their units. In conclusion, ZIP 49815 presents a viable opportunity for Section 8 participation, given the alignment between median income and FMR. Verdict: Suitable for Section 8 investment.
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.