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 | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $248,165 | 0.42% | F |
| 3BR | $1,280 | $329,374 | 0.39% | F |
| 4BR | $1,380 | $370,466 | 0.37% | F |
U.S. Census Bureau data (2024)
ZIP code 48027, located in Goodells, Michigan, falls within the larger Detroit-Warren-Livonia, MI HUD Metro FMR Area. To understand its position relative to other ZIP codes in the area, we can analyze several key metrics including Fair Market Rent (FMR), market rent, home values, and renter share.
The FMR for ZIP 48027 is set at $1400 for fiscal year 2024. This figure represents the maximum amount that a tenant participating in the Section 8 program can pay for rent. In comparison to typical ZIP codes within the Detroit-Warren-Livonia metro, which generally have higher FMRs due to the urban environment, 48027's FMR is relatively low. The market rent of $869 in 48027 is also notably lower than the average market rent across the metro, indicating a potential value pocket where landlords can offer units at competitive rates while still being within the FMR guidelines.
The median home value in 48027 stands at $326,973. This value is slightly above the metro average, suggesting that while it may not be considered a premium sub-market, it offers a reasonable return on investment for property owners. The 12.2% renter share in 48027 is indicative of a smaller proportion of renters compared to the overall metro area, which typically has a higher percentage of rental properties.
Analyze these figures together, and it becomes apparent that 48027 is likely a mid-tier neighborhood within the metro. The combination of a below-average market rent and a median home value that is somewhat above average suggests a balanced market where both homeownership and rental options coexist without significant disparities. However, the divergence between the relatively low FMR and market rent, coupled with a below-metro average renter share, indicates that 48027 could be an attractive location for landlords interested in the Section 8 program, as it provides a stable rental environment with potentially fewer competing rental properties.
Overall, ZIP code 48027 presents a moderate investment opportunity within the Detroit-Warren-Livonia metro. Landlords should consider the specific characteristics of the area when making decisions about property acquisition or management, particularly focusing on the balance between FMR and market rent levels.
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.