Michigan
Ogemaw County
ZIP 48661
20,853 residents62 permits TTM$51,983 median HHI5 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$138,600
ACS 5-Year
Cap rate proxy
7.2%
FMR × 0.65 ÷ Home Value
Rent-to-income
19.1%
HUD FMR ÷ ACS HHI
Net migration
+1.78%
IRS SOI
Permits (TTM)
62
Census BPS
Climate risk
37.0
FEMA NRI (0–100)
ZIP 48661
Median home value
$209,710
Gross yield
5.7%
Cap rate
4.7%
Rent gap
16.3%
Affordability
P/I: 4.0R/I: —
Section 8 detail
SAFMR: $989Rent: $828Gap: 19.4%
ZIP code breakdown5 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 48756 | $109,892 | $989 | 10.8% | 9.0% | 16.3% |
| 48761 | $138,600county est. | $989 | 8.6% | 7.2% | 16.3% |
| 48654 | $165,214 | $989 | 7.2% | 6.0% | 16.3% |
| 48635 | $174,903 | $989 | 6.8% | 5.7% | 16.3% |
| 48661 | $209,710 | $989 | 5.7% | 4.7% | 16.3% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
82.5%
Census ACS
Vacancy rate
40.5%
Census ACS
Bachelor's degree +
15.9%
Census ACS
Rent burdened
47.9%
Census ACS (>30% income)
Median age
50.8
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