Michigan
Luce County
ZIP 49868
6,325 residents8 permits TTM$54,338 median HHI2 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$110,400
ACS 5-Year
Cap rate proxy
8.7%
FMR × 0.65 ÷ Home Value
Rent-to-income
17.6%
HUD FMR ÷ ACS HHI
Net migration
—
IRS SOI
Permits (TTM)
8
Census BPS
Climate risk
2.6
FEMA NRI (0–100)
ZIP 49868
Median home value
$112,425
Gross yield
10.5%
Cap rate
8.5%
Rent gap
19.1%
Affordability
P/I: 2.1R/I: —
Section 8 detail
SAFMR: $988Rent: $799Gap: 23.7%
ZIP code breakdown2 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 49868 | $112,425 | $988 | 10.5% | 8.5% | 19.1% |
| 49853 | $166,082 | $988 | 7.1% | 5.8% | 19.1% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
78.7%
Census ACS
Vacancy rate
41.1%
Census ACS
Bachelor's degree +
19.3%
Census ACS
Rent burdened
44.1%
Census ACS (>30% income)
Median age
44.6
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026