Location: Iron County, MI | Metro: Dickinson County, MI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $890 | $143,212 | 0.62% | D |
| 2BR | $1,160 | $180,434 | 0.64% | D |
| 3BR | $1,380 | $214,520 | 0.64% | D |
| 4BR | $1,520 | $244,894 | 0.62% | D |
U.S. Census Bureau data (2024)
ZIP code 49920, Crystal Falls, Michigan, represents a modest rental market with a population of 4,380. Only 11.4% of the residents are renters, indicating that this area is predominantly homeowner-dominated. The median household income stands at $63,605, which is relatively stable but suggests that the majority of residents prefer owning homes over renting.
The market rent for this ZIP code is $918, which consumes approximately 14.4% of the median household income. This percentage is calculated by dividing the market rent by the median income and multiplying by 100. Given the Fair Market Rent (FMR) set at $1,100 for FY 2026, it's evident that the actual market rent is below the federally determined threshold, which is indicative of a less competitive rental market.
The lower proportion of renters and the modest market rent suggest that there is limited demand for Section 8 vouchers in Crystal Falls. Landlords should expect tenants who are financially constrained and rely on government assistance to cover their housing costs. These tenants will likely be seeking rents closer to the $918 market rate rather than the higher FMR of $1,100.
In summary, Crystal Falls, MI, is not an ideal location for landlords looking to attract a large number of Section 8 tenants. The rental market is small and less competitive, with a significant portion of potential renters being financially dependent on subsidies. Landlords should prepare for a tenant pool that is cautious with spending and requires reliable financial support to meet housing expenses.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.