Housing market/Michigan/ZIP 49431
ZIP 49431 Ludington, Mason County, Michigan
Mason County, MI · Michigan. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
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HUD schedule, ACS stock, and the 90–110% band for ZIP 49431 · MI — sent to you.
ZIP 49431 · MI
ACS rent vs 2BR SAFMR
ZIP 49431 — Ludington, MI HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 49431
- 1-unit detached6,88769.2%
- 1-unit attached2322.3%
- 2–4 units6626.7%
- 5–49 units1,14711.5%
- 50+ units1401.4%
- Mobile8848.9%
2–4 unit share 6.6% · 5–49 unit share 11.5% · combined 2–49 18.2%.
Units by bedrooms
Rent burden
- ACS median gross rent $850 (all bedrooms, occupied rentals).
- Median contract rent $738.
- Renters paying ≥30% of income 41.4%; ≥50% 11.9%.
- FY2027 2BR SAFMR $1,110 (1.306× ACS median gross rent).
Population
17,027 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -2.2%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 2 projects, 197 units.
- HUD project-based assisted MF: 4 properties, 245 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 0 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 49431 27.7% of occupied households are renters; vacancy is 25.0%; ACS median gross rent is $850; population changed -2.2% between the 2018 and 2023 ACS vintages; the housing stock includes 662 units in 2–4-unit structures and 1,147 units in 5–49-unit structures; 2 LIHTC projects totaling 197 units; FY2027 2BR SAFMR is $1,110 versus ACS median gross rent of $850. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Michigan research
ZIP 49431 is a Census / HUD profile for Mason County, MI. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 49431 — Ludington, MI HUD Section 8 Payment Standards / SAFMR·Michigan ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Michigan research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 49431?
ZIP 49431 (Mason County, MI) has 17,027 residents, 7,465 households, a renter share of 27.7%, median household income of $63,313, and ACS 2023 median gross rent of $850. Vacancy is 25.0%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 49431?
ACS counts 302 units in 2-unit buildings, 360 in 3–4 unit buildings, 314 in 5–9, 425 in 10–19, and 408 in 20–49. Combined 2–49 unit stock is 1,809 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 49431?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,110. See the full schedule and 90–110% payment-standard band on the ZIP 49431 — Ludington, MI HUD Section 8 Payment Standards / SAFMR.
Does this Michigan ZIP profile include Georgia listings?
No. ZIP 49431 is Census / HUD research for Mason County, MI. Jeff Crowe CRE does not list Michigan property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.