Location: Menominee County, MI | Metro: Menominee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 49886 stands out due to its unique combination of demographic and economic factors. With only 376 residents, it has one of the smallest populations, but a median income of $77,500 indicates a relatively affluent community. The median home value of $155,317 further supports this, suggesting that homeownership is a significant part of the local economy, with only 5.4% of residents renting their homes.
Despite the high median income and home values, rental data for this ZIP code is currently unavailable, which could imply a tight rental market or an underdeveloped rental sector. However, the Federal Market Rent (FMR) for ZIP 49886 is set at $1,230 for the fiscal year 2026, reflecting the anticipated cost for a modest apartment in the area. This figure will be crucial for landlords participating in the Section 8 program, as it determines the maximum amount of rent assistance that can be paid to them.
The voucher economics in ZIP 49886 suggest a potential opportunity for landlords who are willing to participate in the Section 8 program. Given the limited number of renters, there might be a competitive edge in offering affordable housing options through the program. However, the absence of market rent data complicates the analysis, making it difficult to assess how the FMR compares to actual rental costs.
Based on the available data, ZIP 49886 appears to be a stable community with a strong preference for homeownership. The lack of significant rental activity and the absence of current market rent data indicate that the area may not be undergoing rapid changes, but rather maintaining its status quo. For small-portfolio investors and landlords looking to enter the Section 8 market, the data suggests a cautious approach, given the limited rental sector and the need to rely on FMR estimates for financial planning.
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.