Location: Houghton County, MI | Metro: Houghton County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 49922, with a population of 842, is primarily characterized by a relatively low percentage of renters at 12.8%. This indicates that the area is not heavily dominated by rental properties but rather leans towards homeownership. The median household income in this ZIP code stands at $55,313, which provides a basis for evaluating the affordability of rents.
A typical market rent of $825 consumes approximately 14.9% of the median household income. This figure suggests that while rents are manageable, they still represent a significant portion of the average resident's income. For context, the Fair Market Rent (FMR) for the metro area is set at $980 (for FY 2026), indicating that the market rent in ZIP 49922 is below the FMR threshold, which could imply a lower demand for housing vouchers compared to areas where rents exceed the FMR.
The limited voucher demand in ZIP 49922 means that landlords should expect tenants who can afford the market rent without assistance. These tenants are likely to be individuals or families whose total income is sufficient to cover the rent costs independently. However, given the percentage of renters and the income levels, landlords might occasionally encounter potential tenants seeking some form of financial aid to meet their rental obligations, though such cases will be less frequent than in more renter-heavy areas.
To summarize, ZIP 49922 is not a high-demand voucher area. With a modest renter population and market rents slightly below the FMR, landlords should prepare for a tenant pool that generally pays market rates and has a stable income level relative to the cost of living in the area.
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.