Section 8 Fair Market Rent (FMR) for ZIP 49961 - 2027

Location: Houghton County, MI | Metro: Houghton County, MI

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$800
2 Bedrooms	$1,030
3 Bedrooms	$1,430
4 Bedrooms	$1,720
5 Bedrooms	$1,995
6 Bedrooms	$2,234
7 Bedrooms	$2,413
8 Bedrooms	$2,534

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

104

Median Household Income

$53,750

Housing Units

173

Renter Percentage

N/A

Occupancy Rate

34.1%

Renter Occupied

The ZIP code 49961, located in the heart of Michigan's Lower Peninsula, offers a unique blend of rural charm and proximity to urban amenities. This area is characterized by its low population density and high proportion of homeowners, making it an interesting market for real estate investors, particularly those interested in understanding the dynamics of Section 8 housing and market rents.

Fair Market Rent (FMR) for the metro area in fiscal year 2026: The FMR is set at $970, which reflects the rental value that HUD deems reasonable for the region.
Market Rent: Data for the specific market rent in ZIP 49961 is currently unavailable, indicating a lack of significant rental activity in the area.
Median Home Value: Similarly, there is no reported median home value for ZIP 49961, suggesting that the market is primarily driven by individual transactions rather than a well-defined average price point.
Renter Share: With a reported 0.0% share of renters, the area is predominantly composed of homeowners, which can affect the demand for rental properties.
Days on Market (DOM): Information regarding the typical days a property remains on the market is not available, pointing to either a very active market or a niche market with limited data.
Median Income: The median income for the area is $53,750, providing insight into the economic status of potential tenants and buyers.

In summary, ZIP 49961 presents a market dominated by homeownership, with a Fair Market Rent of $970 guiding the rental pricing for Section 8 participants. The absence of specific market rent and median home value data underscores the area's unique characteristics, where individual property values and rental rates may vary widely. Given the low renter share and median income, landlords and small-portfolio investors should carefully consider the limited rental demand and ensure that their investment aligns with the financial capabilities of the local population. While there may be opportunities in the Section 8 housing market, the overall rental market appears underdeveloped compared to more urbanized areas.

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.