Location: Detroit-Warren-Livonia, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,440 | $330,255 | 0.44% | F |
| 4BR | $1,560 | $388,624 | 0.4% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 48022 is currently characterized by a balance between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area, set at $1,100 for fiscal year 2024, slightly exceeds the reported market rent of $1,050, based on the latest Census American Community Survey (ACS) data. This suggests that rental properties priced near the FMR level might experience some competitive pressure, as tenants have options at lower rates.
The median home value in the region stands at $327,298. While this figure provides insight into the overall housing market, it does not directly indicate whether supply is outpacing demand or vice versa. However, the lack of data on price-cut share and days on market (DOM) implies stability in the market, without significant fluctuations that would typically be associated with either oversupply or undersupply conditions.
A critical factor to consider is the 2.4% share of renters in the area. This relatively low percentage indicates a preference for homeownership over renting, which could mean that long-term housing pressures may be less pronounced compared to areas with higher renter shares. Homeowners tend to stay in their homes longer, reducing the turnover rate and potentially easing rental market pressures.
Despite the low renter share, the slight gap between FMR and market rent suggests that there is still a rental market in 48022, albeit a smaller one. Landlords and small-portfolio investors can leverage this knowledge to price their units competitively, ensuring they remain attractive to the limited pool of renters while also staying mindful of the broader housing market dynamics.
In summary, ZIP 48022 presents a stable market with a slight bias towards homeownership. For those looking to invest in rental properties, understanding these dynamics is crucial for setting realistic expectations and making informed decisions. The market appears to favor landlords who can offer competitive pricing and maintain high-quality rental units.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.