Location: Baraga County, MI | Metro: Baraga County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
ZIP 49919, located in Baraga County, Michigan, serves as an ideal diversifier within a Section 8 portfolio strategy. The area boasts a renter share of 6.3%, indicating a significant portion of the population relies on rental properties, which aligns well with the objectives of Section 8 housing programs. Additionally, the median income of $49,423 suggests that residents are likely to benefit from affordable housing options, making this ZIP code a suitable candidate for such investments.
The lack of specific market data for median home values and price-cut shares does not detract from the viability of this location as a diversifier. Instead, it highlights the importance of considering areas with limited high-value assets, ensuring that the portfolio is not overly exposed to any single type of investment risk. Section 8 properties in ZIP 49919 can provide steady, government-backed rental income without the volatility associated with fluctuating home prices.
A key factor in evaluating ZIP 49919 is the Fair Market Rent (FMR) figure of $970 for the metro area in fiscal year 2026. While there is no direct comparison to a local market rate due to the absence of relevant data, the FMR provides a benchmark for rental income that is consistent and reliable. This figure ensures that landlords receive a predictable and stable income stream, which is crucial for maintaining the financial health of a Section 8 portfolio.
In summary, ZIP 49919 offers a strong foundation for diversifying a Section 8 portfolio. Its reliance on rental properties and moderate median income levels make it a valuable addition to a strategy focused on broadening investment horizons while maintaining steady cash flow. Landlords should consider this ZIP code for its potential to stabilize and balance their overall investment mix.
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.