Section 8 Fair Market Rent (FMR) for ZIP 49968 - 2027

Location: Gogebic County, MI | Metro: Gogebic County, MI

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$820
2 Bedrooms	$1,010
3 Bedrooms	$1,410
4 Bedrooms	$1,510
5 Bedrooms	$1,752
6 Bedrooms	$1,962
7 Bedrooms	$2,119
8 Bedrooms	$2,225

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,203

Median Household Income

$55,759

Housing Units

1,379

Renter Percentage

15.0%

Occupancy Rate

70.7%

Renter Occupied

146

ZIP code 49968, located in Michigan, presents a unique opportunity for real-estate investors interested in the Section 8 housing market. This suburban area is characterized by a mix of rental properties and homeownership, offering a stable environment for both landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 49968 is set at $1,000 for the fiscal year 2026, providing a benchmark for rental pricing in the area.
The average market rent, according to Census ACS data, stands at $656, indicating that properties priced near the FMR may attract higher-income tenants.
The median home value in the region is $105,005, which is relatively low, suggesting that there could be opportunities for acquiring undervalued properties.
Renters make up 15.0% of the population, highlighting a moderate demand for rental units and a potential for growth in the rental market.
The median household income is $55,759, which aligns well with the income limits for Section 8 eligibility, making it a suitable area for properties participating in the program.

In summary, ZIP 49968 offers a balanced market for Section 8 properties with a fair market rent significantly above the average market rent, indicating potential for higher yields. The median home value suggests possible acquisition opportunities, while the moderate renter share and median income levels indicate a stable tenant base. Investors should focus on properties that can command rents close to the FMR to maximize profitability.

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.