Location: Ontonagon County, MI | Metro: Houghton County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49965 reveals a unique blend of yield potential and stability, making it an interesting market for real-estate investors. With a Fair Market Rent (FMR) of $970 for the fiscal year 2026, this area offers a clear advantage over the metro average, which is also reported at $970. However, the lack of specific market and home value data means we must rely heavily on other indicators to gauge overall stability.
The rental market in ZIP 49965 is relatively stable, with only 3.2% of the population identified as renters. This low percentage suggests a community that is predominantly owner-occupied, reducing the volatility often associated with higher renter populations. The median household income of $78,295 provides a solid financial foundation for residents, indicating they can likely afford rent without significant strain, thus contributing to tenant reliability and lower turnover rates.
The absence of data regarding days on market (DOM) is a notable gap; however, given the context of a low-renter percentage, it's reasonable to infer that the rental market may be tighter, leading to quicker lease-ups once a property becomes available. This inference supports the idea that while the market may not offer extremely high yields due to competition with owner-occupied homes, it does provide a reliable cash flow for those who can secure tenants.
Based on these figures, ZIP 49965 leans towards being a steady-cashflow zone. The FMR aligns closely with the metro average, suggesting a competitive but not overly saturated rental market. The low percentage of renters coupled with a strong median income implies a stable environment where tenants are less likely to default on payments. For landlords and small-portfolio investors, this ZIP code represents a moderate-risk investment opportunity with predictable returns rather than high-yield, speculative gains.
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.