Location: Marquette County, MI | Metro: Delta County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49880 in Marquette County, Michigan reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the area is set at $1,020 for the fiscal year 2026. However, the actual market rent based on Census ACS data stands at only $725. This means that landlords would need to increase their rental rates significantly to meet the FMR, which could be challenging given the current market conditions.
Secondly, acquisition appears to be affordable. The median home value in this ZIP code is $196,070, which is relatively low compared to other areas in the state. While the days on market (DOM) and the percentage of homes that required a price cut are not available, the low median home value suggests that purchasing properties could be a viable investment strategy, especially if the goal is to hold long-term assets rather than flipping them quickly.
Lastly, tenant demand is limited. With a total population of 1,021 and only 6.0% of residents being renters, the pool of potential tenants is quite small. This indicates that competition among landlords for a limited number of renters could be fierce, potentially driving down rental rates further.
Verdict: ZIP code 49880 presents a challenging environment for landlords and small-portfolio investors. The discrepancy between the FMR and the market rent suggests that achieving favorable rental income will be difficult without increasing occupancy risks. The affordability of property acquisition is a positive aspect, but it must be weighed against the limited tenant demand. Given these factors, investing in this ZIP code should be approached with caution unless the investor has a strategic plan to overcome the low rental rates and limited tenant pool.
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.