Location: Houghton County, MI | Metro: Houghton County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 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 49942, located within Houghton County, MI, presents a unique scenario when compared to the typical ZIP codes within the same county. The Fair Market Rent (FMR) for 49942 is set at $970 for fiscal year 2026, which serves as a benchmark for rental costs within the area. However, specific data on market rents and home values for 49942 are not available, indicating that it may be a less developed or sparsely populated area.
A notable aspect of 49942 is its 0.0% renter share, meaning that there are no reported renters within this ZIP code according to the given data. This starkly contrasts with the typical ZIP codes in Houghton County, where a mix of homeowners and renters usually exists. The absence of renters in 49942 suggests that it is primarily composed of owner-occupied homes, possibly due to its rural nature or the preference for homeownership among its residents.
In terms of classification within its metro, 49942 would likely be considered a value pocket. This designation comes from the combination of its low FMR and lack of market rent and home value data, suggesting that it offers lower-cost living options compared to other areas within Houghton County. The low FMR of $970 indicates that it could be an attractive location for tenants seeking affordable housing, especially those who qualify for Section 8 assistance.
However, the absence of renters and the unavailability of market rent and home value data make it difficult to classify 49942 as a typical Section 8 sweet spot. Usually, a sweet spot for Section 8 properties would exhibit a higher renter share alongside lower-than-average home values, which would signal a strong demand for subsidized housing. In the case of 49942, while the FMR is low, the lack of renters and the absence of specific home value data prevent a definitive conclusion regarding its potential as a Section 8 opportunity.
To provide a more accurate analysis, additional data on market conditions and the presence of Section 8 tenants in neighboring ZIP codes would be beneficial. Nonetheless, based on the provided figures, 49942 stands out as a value pocket within Houghton County, offering lower-cost living options without the typical characteristics associated with a Section 8 sweet spot.
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.