Location: Alger County, MI | Metro: Alger County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 49891 has a population of 548 residents, with only 0.9% identified as renters. This indicates that the area is predominantly homeowner-dominated rather than a renter-heavy zone. Given the low percentage of renters, it is reasonable to infer that the demand for Section 8 vouchers in this area is likely to be relatively scarce.
The median household income in ZIP 49891 stands at $46,063, which provides a basis for understanding the financial capacity of potential tenants. However, without specific market rent data for the area, we cannot calculate the exact percentage of local income that goes towards paying rent. To provide context, the Fair Market Rent (FMR) for the metro area, as of fiscal year 2026, is set at $1,070. This figure can serve as a benchmark for comparing against actual market rents once they are obtained.
A landlord in ZIP 49891 should anticipate a tenant pool that primarily consists of individuals who are financially constrained and rely on government assistance to meet their housing needs. These tenants will be looking for affordable housing options that align with their voucher amounts, making it imperative for landlords to understand the local rental market dynamics and the implications of the FMR on tenant eligibility.
Given the homeowner-dominated nature of the area and the scarcity of voucher demand, landlords might consider diversifying their tenant acquisition strategies beyond solely targeting Section 8 participants. This could include appealing to a broader range of tenants who may have slightly higher incomes but still seek out the affordable housing opportunities that exist within ZIP 49891.
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.