Location: Menominee County, MI | Metro: Menominee County, MI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $144,059 | 0.71% | D |
| 3BR | $1,430 | $184,378 | 0.78% | D |
| 4BR | $1,450 | $204,853 | 0.71% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 49858 (Menominee, MI, Menominee County, MI metro) does not work favorably for landlords. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990, whereas the current market rent, according to Census ACS data, is only $728. This discrepancy suggests that landlords might struggle to charge the FMR without significant vacancy risks.
Acquisition in this area is relatively affordable. The median home value stands at $167,930, which is a reasonable entry point for small-portfolio investors looking to purchase properties. However, the lack of data on days on market (DOM) and the low percentage of homes requiring price cuts (0.2%) indicate that the housing market is stable but not particularly dynamic. This stability could mean slower property turnover and less frequent opportunities to acquire new assets at discounted rates.
Tenant demand in ZIP 49858 is moderate. With a total population of 11,927 and a renter share of 24.3%, there are approximately 2,905 potential renters. While this number is not insignificant, it does suggest that competition among rental properties could be stiff, especially given the lower market rent compared to the FMR.
In conclusion, ZIP 49858 presents a mixed picture for landlords and small-portfolio investors. The primary challenge lies in the unfavorable rent math, where the market rent falls significantly below the FMR. Acquisition is affordable, with median home values offering a good entry point, but the stable market conditions imply limited opportunities for quick flips or significant discounts. Tenant demand is present but not robust, indicating a competitive rental environment. Landlords should proceed with caution, focusing on cost-effective property management and possibly seeking alternative revenue streams to offset the lower rents. Overall, while the area offers some advantages, the financial viability of rental investments is constrained by the low market rents and high FMRs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.