Rental DSCR · Michigan
Where rent covers the loan in Michigan
At a 7% example rate, a 3-bedroom rental on a mid-market home covers its full payment in 47 of 83 Michigan counties (57%). The typical Michigan county has a DSCR of 1.03. Among markets with at least 2,500 renter homes and a loan of $55,000 or more, the highest DSCRs are in Saginaw County at 1.27, Calhoun County at 1.22 and Branch County at 1.21.
The biggest rental markets
In Michigan’s largest rental markets, the rent covers the payment in Wayne County (DSCR 1.17, break-even 9.2%) and Macomb County (DSCR 1.02, break-even 7.3%), while the rent falls short of the payment in Oakland County (DSCR 0.89, break-even 5.5%).
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Financing a rental in Michigan? Read Pinnacle Funding Network’s Michigan DSCR loan guide.
Every Michigan county, ranked
Ranked by DSCR at a 7% example rate on a mid-market home, 75% loan. † A 75% loan there is under $55,000, the smallest DSCR loan through Pinnacle Funding Network. * Small survey sample; treat as rough.
| # | County | Renter homes | 3-bed rent | Home price | DSCR at 7% (example) | Break-even rate |
|---|---|---|---|---|---|---|
| 1 | Gogebic County | 1,329 | $1,326 | $115,500 | 1.71 | 15.4% |
| 2 | Ontonagon County | 407 | $960 | $101,100 | 1.46 | 12.4% |
| 3 | Menominee County | 2,002 | $1,324 | $155,800 | 1.35 | 11.1% |
| 4 | Iosco County | 2,100 | $1,279 | $151,700 | 1.35 | 11.1% |
| 5 | Luce County | 428 | $1,063 | $126,900 | 1.33 | 10.8% |
| 6 | Lake County | 935 | $1,148 | $140,100 | 1.29 | 10.4% |
| 7 | Saginaw County | 20,188 | $1,252 | $147,000 | 1.27 | 10.4% |
| 8 | Iron County* | 860 | $963 | $117,700 | 1.23 | 9.9% |
| 9 | Calhoun County | 14,586 | $1,295 | $160,400 | 1.22 | 9.7% |
| 10 | Oscoda County* | 483 | $1,037 | $136,500 | 1.22 | 9.5% |
| 11 | Branch County | 3,775 | $1,277 | $165,200 | 1.21 | 9.6% |
| 12 | Gratiot County | 3,124 | $1,152 | $148,100 | 1.20 | 9.5% |
| 13 | Bay County | 10,358 | $1,255 | $156,700 | 1.20 | 9.5% |
| 14 | Clare County | 1,643 | $1,109 | $146,000 | 1.19 | 9.3% |
| 15 | Baraga County | 738 | $1,066 | $139,100 | 1.18 | 9.3% |
| 16 | Houghton County | 4,034 | $1,283 | $170,300 | 1.18 | 9.2% |
| 17 | Schoolcraft County | 520 | $1,124 | $152,700 | 1.17 | 9.1% |
| 18 | Alpena County | 2,604 | $1,162 | $156,600 | 1.17 | 9.1% |
| 19 | Wayne County | 246,939 | $1,356 | $171,300 | 1.17 | 9.2% |
| 20 | Montmorency County* | 595 | $1,205 | $168,700 | 1.16 | 8.9% |
| 21 | Jackson County | 15,613 | $1,412 | $189,800 | 1.16 | 8.9% |
| 22 | Gladwin County | 1,570 | $1,214 | $165,400 | 1.15 | 8.8% |
| 23 | Ionia County | 5,303 | $1,447 | $201,500 | 1.14 | 8.7% |
| 24 | Tuscola County | 2,921 | $1,137 | $155,300 | 1.14 | 8.7% |
| 25 | Isabella County | 9,508 | $1,263 | $171,100 | 1.13 | 8.7% |
| 26 | Wexford County | 2,617 | $1,256 | $175,500 | 1.13 | 8.6% |
| 27 | Ingham County | 47,469 | $1,518 | $198,600 | 1.11 | 8.4% |
| 28 | Alcona County | 550 | $1,142 | $169,100 | 1.11 | 8.3% |
| 29 | Dickinson County | 2,100 | $1,088 | $153,200 | 1.09 | 8.2% |
| 30 | Montcalm County | 4,131 | $1,282 | $188,400 | 1.09 | 8.1% |
| 31 | Delta County | 2,873 | $1,213 | $175,800 | 1.09 | 8.1% |
| 32 | Arenac County | 901 | $1,123 | $162,200 | 1.09 | 8.1% |
| 33 | Shiawassee County | 5,590 | $1,253 | $178,100 | 1.08 | 8.0% |
| 34 | Sanilac County | 3,051 | $1,097 | $168,300 | 1.05 | 7.7% |
| 35 | Eaton County | 11,734 | $1,545 | $224,800 | 1.05 | 7.7% |
| 36 | Keweenaw County | 106 | $1,045 | $159,000 | 1.05 | 7.6% |
| 37 | Genesee County | 48,971 | $1,169 | $169,900 | 1.05 | 7.6% |
| 38 | Huron County | 2,573 | $1,113 | $166,000 | 1.05 | 7.6% |
| 39 | Kent County | 76,166 | $1,988 | $307,100 | 1.04 | 7.5% |
| 40 | Lenawee County | 7,947 | $1,330 | $198,700 | 1.04 | 7.5% |
| 41 | St. Joseph County | 5,640 | $1,205 | $185,000 | 1.03 | 7.4% |
| 42 | Presque Isle County | 750 | $1,053 | $164,300 | 1.03 | 7.4% |
| 43 | Ogemaw County | 1,526 | $1,038 | $162,300 | 1.03 | 7.4% |
| 44 | Macomb County | 89,612 | $1,637 | $246,200 | 1.02 | 7.3% |
| 45 | Mackinac County* | 1,150 | $1,098 | $174,600 | 1.00 | 7.0% |
| 46 | Midland County | 7,671 | $1,332 | $202,600 | 1.00 | 7.0% |
| 47 | Newaygo County | 2,644 | $1,198 | $190,700 | 1.00 | 7.0% |
| 48 | Muskegon County | 14,861 | $1,329 | $211,600 | 0.99 | 6.9% |
| 49 | Roscommon County | 1,686 | $1,052 | $171,100 | 0.98 | 6.8% |
| 50 | Osceola County | 1,525 | $1,034 | $169,300 | 0.97 | 6.7% |
| 51 | Mecosta County | 3,857 | $1,127 | $186,000 | 0.97 | 6.7% |
| 52 | Manistee County | 1,504 | $1,176 | $193,200 | 0.97 | 6.7% |
| 53 | Crawford County* | 1,269 | $1,130 | $185,300 | 0.97 | 6.6% |
| 54 | Kalkaska County | 921 | $1,199 | $204,700 | 0.96 | 6.5% |
| 55 | Monroe County | 11,527 | $1,411 | $233,300 | 0.96 | 6.5% |
| 56 | Lapeer County | 4,862 | $1,432 | $246,000 | 0.95 | 6.5% |
| 57 | Marquette County | 8,576 | $1,319 | $226,000 | 0.95 | 6.4% |
| 58 | Chippewa County | 3,516 | $1,048 | $171,200 | 0.95 | 6.3% |
| 59 | Berrien County | 17,388 | $1,329 | $225,000 | 0.94 | 6.3% |
| 60 | Otsego County | 2,558 | $1,321 | $234,800 | 0.94 | 6.2% |
| 61 | Hillsdale County | 3,213 | $1,037 | $182,200 | 0.91 | 5.9% |
| 62 | Van Buren County | 5,951 | $1,186 | $203,600 | 0.91 | 5.8% |
| 63 | Cass County | 3,893 | $1,194 | $212,400 | 0.91 | 5.9% |
| 64 | Missaukee County | 894 | $1,021 | $180,100 | 0.91 | 5.9% |
| 65 | Oakland County | 144,960 | $1,922 | $342,200 | 0.89 | 5.5% |
| 66 | Kalamazoo County | 38,004 | $1,408 | $244,300 | 0.88 | 5.4% |
| 67 | Mason County | 2,776 | $1,245 | $227,100 | 0.88 | 5.5% |
| 68 | Alger County* | 484 | $1,041 | $192,400 | 0.88 | 5.4% |
| 69 | Barry County | 3,106 | $1,480 | $274,600 | 0.87 | 5.4% |
| 70 | Oceana County | 1,620 | $1,053 | $194,200 | 0.87 | 5.4% |
| 71 | Ottawa County | 23,074 | $1,830 | $344,000 | 0.87 | 5.4% |
| 72 | St. Clair County | 13,034 | $1,233 | $227,200 | 0.86 | 5.2% |
| 73 | Livingston County | 10,041 | $1,893 | $368,100 | 0.85 | 5.1% |
| 74 | Washtenaw County | 57,782 | $2,025 | $374,400 | 0.83 | 4.7% |
| 75 | Allegan County | 5,750 | $1,413 | $274,900 | 0.83 | 4.8% |
| 76 | Cheboygan County | 1,603 | $1,076 | $214,200 | 0.82 | 4.8% |
| 77 | Clinton County | 5,634 | $1,366 | $265,100 | 0.81 | 4.5% |
| 78 | Grand Traverse County | 9,197 | $1,744 | $360,700 | 0.80 | 4.6% |
| 79 | Charlevoix County | 2,025 | $1,390 | $301,100 | 0.76 | 4.0% |
| 80 | Benzie County | 944 | $1,438 | $318,900 | 0.76 | 4.0% |
| 81 | Antrim County | 1,513 | $1,239 | $272,100 | 0.76 | Under 4% |
| 82 | Emmet County | 3,488 | $1,446 | $335,800 | 0.72 | Under 4% |
| 83 | Leelanau County | 808 | $1,588 | $513,600 | 0.53 | Under 4% |
Rates on this page are a 7% example, not a quote or an offer. DSCR here is 3-bedroom rent divided by principal, interest, property tax and insurance on a 75% loan with a 30-year fixed payment. At 1.00 the rent pays all of it. Figures are estimates from public data, for education only.
Questions
In how many Michigan counties does a 3-bedroom rental cover the payment at 7%?
At a 7% example rate, a 3-bedroom rental on a mid-market home covers its full payment in 47 of 83 Michigan counties (57%). The typical Michigan county has a DSCR of 1.03. Move the example rate and the count changes: 60 counties cover at 6%, 47 at 7% and 33 at 8%.
Where in Michigan does rent go furthest against the payment?
Among markets with at least 2,500 renter homes and a loan of $55,000 or more, the highest DSCRs are in Saginaw County at 1.27, Calhoun County at 1.22 and Branch County at 1.21.
Do Michigan’s biggest rental markets cover the payment?
In Michigan’s largest rental markets, the rent covers the payment in Wayne County (DSCR 1.17, break-even 9.2%) and Macomb County (DSCR 1.02, break-even 7.3%), while the rent falls short of the payment in Oakland County (DSCR 0.89, break-even 5.5%).
How is this calculated?
Rent is HUD’s FY2027 Fair Market Rent for a 3-bedroom, adjusted to each county. Home prices are about the 40th percentile of local values from the Census Bureau’s 2020 to 2024 American Community Survey, brought to mid-2026 with the FHFA house price index. Property tax uses each county’s effective rate and insurance starts from NAIC 2023 average premiums. DSCR is rent divided by principal, interest, tax and insurance on a 75% loan at a 7% example rate, which is not a quote or an offer.
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