Section 8 Fair Market Rent (FMR) for ZIP 49970 - 2027

Location: Baraga County, MI | Metro: Baraga County, MI

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,210
4 Bedrooms	$1,340
5 Bedrooms	$1,554
6 Bedrooms	$1,740
7 Bedrooms	$1,879
8 Bedrooms	$1,973

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

256

Median Household Income

$60,536

Housing Units

185

Renter Percentage

2.4%

Occupancy Rate

68.6%

Renter Occupied

ZIP code 49970, located in Michigan, is a suburban area characterized by its low density of rental properties and a significant focus on homeownership. The real estate landscape here is primarily driven by families and individuals seeking stable housing solutions, with limited opportunities for short-term rentals.

The Fair Market Rent (FMR) for ZIP 49970 in fiscal year 2026 is set at $1,000, indicating a moderate demand for rental units that aligns with the national average for similar-sized communities.
Rental market data is currently unavailable, which suggests a niche market with fewer properties listed for rent compared to other areas.
The median home value in this ZIP code is also not available, reflecting a smaller sample size of recent sales transactions.
Renters make up only 2.4% of the population, highlighting a strong preference for homeownership over renting among residents.
The median income in the area stands at $60,536, providing insight into the economic status of the local populace and their potential ability to afford higher rents or purchase homes.
The Days on Market (DOM) statistic is not available, but given the low percentage of renters, it's reasonable to infer that rental listings might be scarce and move quickly when they do come on the market.

For landlords and small-portfolio investors considering ZIP 49970, the key takeaway is that the area presents a challenging environment for rental investments due to the high homeownership rate and limited rental market data. However, the established median income suggests that residents have the financial capacity to support rental rates around the $1,000 mark, making it a viable option for those willing to navigate the complexities of a niche market. The scarcity of rental data implies a less competitive market, potentially offering opportunities for those who can identify undervalued rental properties or convert underutilized assets into rental income sources.

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.