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 | $1,090 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $252,240 | 0.6% | D |
| 3BR | $1,850 | $347,170 | 0.53% | F |
| 4BR | $2,010 | $451,994 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48023, Fair Haven, Michigan, in fiscal year 2024 is set at $1310. This figure represents the maximum amount that a landlord can receive from the government under the Section 8 Housing Choice Voucher program for a given unit. It is important to note that this is the payment standard, which means it does not necessarily reflect the market rent you might charge.
In comparison, the average rent for the area, based on recent Census American Community Survey (ACS) data, is $1266. This indicates that the FMR is slightly above the typical rent, providing a modest cushion for landlords participating in the program.
The local renter share is 19.6%, meaning nearly one-fifth of the population in Fair Haven rents their homes. This suggests a reasonable demand for rental properties, particularly those that cater to low-income families who may rely on Section 8 vouchers.
If you are considering purchasing a property in this area, the median home value is around $252,845. This gives you an idea of the potential acquisition cost for your first Section 8 rental property.
Before proceeding, it is crucial to verify that the property meets all the necessary requirements for the Section 8 program. These include passing a housing quality standards (HQS) inspection and ensuring that the rent does not exceed the FMR. The HQS inspection checks for safety, cleanliness, and general habitability, so make sure your property is up to par before applying.
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.