Location: Dickinson County, MI | Metro: Dickinson County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49877 in Dickinson County, Michigan, reveals several critical factors that affect its attractiveness for Section 8 real-estate investments.
The rent math does not work favorably due to the Federal Market Rent (FMR) set at $970 for the fiscal year 2026. This figure is based on the metro area's standards and does not align with the market rent, which is currently unavailable. Landlords must be cautious as the FMR might not cover the true cost of maintaining and managing properties in this area.
Regarding acquisition affordability, the lack of specific data points such as median home value, days on market (DOM), and percentage of price cuts shared makes it challenging to provide a definitive assessment. However, without concrete numbers indicating high median home values, long DOM periods, or frequent price reductions, there is no immediate evidence suggesting that acquiring homes in this ZIP code would be overly expensive or difficult.
Tenant demand in ZIP 49877 is relatively low. With a population of 56 and only 5.3% being renters, the pool of potential tenants is limited. This scarcity could lead to longer vacancy periods and increased competition among landlords for the few available renters.
Verdict: ZIP 49877 presents significant challenges for Section 8 investments. The low FMR of $970 may not adequately compensate for property maintenance and management costs. Limited tenant demand due to a small population and low renter share could result in prolonged vacancies. While specific data on median home values and DOM are missing, the overall environment suggests that this area is not ideal for maximizing returns on investment through Section 8 participation.
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.