Location: Menominee County, MI | Metro: Menominee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 49847, set at $970 for the metro area fiscal year 2026, represents the payment standard under the Section 8 housing program. This means that if you participate in the Section 8 program, the government will pay up to $970 per month towards the rent of your property. However, this does not dictate the amount you can charge tenants; it's the maximum subsidy available.
To put this into perspective, the average rent in ZIP 49847 is currently $579 according to the latest Census American Community Survey (ACS) data. The difference between the FMR and the local average rent indicates that there is potential for landlords to receive higher payments through the Section 8 program compared to the typical market rate.
The 19.1% share of renters in the area suggests a moderate demand for rental properties. While not overwhelming, it does provide a stable tenant base for those interested in Section 8 rentals. The median household income in ZIP 49847 is $156,754, which is significantly higher than the average rent. This discrepancy highlights that the acquisition cost of a property in this area would be considerably more expensive than the rental income it generates, making it important for landlords to consider the long-term financial benefits of participating in the Section 8 program.
Before committing to a Section 8 rental in ZIP 49847, ensure your property meets the Housing Quality Standards (HQS) required by the program. This verification process includes an inspection to confirm that your property is safe, decent, and sanitary. It's a critical step that must be completed to qualify for the program and avoid any delays in receiving payments.
In summary, the FMR of $970 provides a benchmark for subsidy payments, while the local average rent of $579 and the 19.1% renter share indicate a reasonable demand for rental properties. The median household income figure of $156,754 underscores the high cost of acquiring property in the area. By ensuring your property meets HQS, you can confidently proceed with a Section 8 rental, knowing it will generate steady income.
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.