Location: Schoolcraft County, MI | Metro: Delta County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 49817 has a population of 580, with only 6.6% of residents being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy. The median household income in this ZIP code stands at $63,984, which provides some context for evaluating rental affordability.
While the specific market rent for ZIP 49817 is not available, we can use the Fair Market Rent (FMR) as a benchmark. The FMR for the area is set at $1,080 per month for FY 2026, reflecting the metro level standards. Given the median income figure, let's estimate the impact of this rent on local finances. If we assume that the typical rent aligns closely with the FMR, then the monthly rent would consume approximately 17.1% of the median household income ($1,080 / $63,984 * 12 months).
This percentage is calculated based on the assumption that the typical rent is equal to the FMR, which is a reasonable approximation in the absence of specific market data. However, it's important to note that this ZIP code has a relatively low proportion of renters, suggesting that the demand for Section 8 vouchers might be correspondingly limited.
In terms of tenant profiles, landlords in ZIP 49817 should anticipate a mix of tenants who may rely on Section 8 vouchers due to the established FMR. These tenants will likely have their rent subsidized up to $1,080 per month, making them financially stable and capable of meeting the rent requirements without significant strain on their overall income. Despite the low percentage of renters, those seeking housing assistance through Section 8 will still represent a viable and reliable tenant base, provided they adhere to the program's eligibility criteria.
To conclude, while ZIP 49817 is not a renter-heavy area, there is still potential for landlords to attract Section 8 tenants who can afford the typical market rent with government assistance. The scarcity of voucher holders reflects the broader trend towards homeownership in the community, but landlords can still benefit from the stability and financial predictability that these tenants bring to their properties.
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.