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 | $930 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $235,125 | 0.55% | F |
| 3BR | $1,570 | $336,145 | 0.47% | F |
| 4BR | $1,710 | $442,760 | 0.39% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48051, Chesterfield, Michigan, in fiscal year 2024 is set at $1,280. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; it's the benchmark used by the government to determine what is considered a fair rent in the area.
In comparison, the average rent in Chesterfield based on recent Census American Community Survey (ACS) data is $1,043. This suggests that the FMR is slightly higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program. The difference between the FMR and the average rent indicates a potential premium for those who choose to accept Section 8 tenants.
The renter share in Chesterfield is 14.9%, meaning nearly 15% of the population rents their homes. This percentage shows there is a steady demand for rental properties, including those available through Section 8. However, the actual number of eligible applicants and the competition for vouchers can vary widely. Landlords should be prepared to verify that the property meets all the necessary criteria for participation in the program, such as passing an inspection for health and safety standards.
When considering acquiring a new rental property in Chesterfield, the median home value is around $306,585. This figure gives you a sense of the investment required to enter the market. While this may seem high, it's crucial to understand that the long-term stability and predictability of rental income under Section 8 can offset some of the risks associated with fluctuating market conditions.
Before committing to a Section 8 rental, ensure that your property complies with the Housing Quality Standards (HQS). These standards cover a wide range of issues, from structural integrity to basic amenities, and failing to meet them can result in penalties or disqualification from the program. A thorough review of these standards and any necessary repairs will help you avoid delays and ensure a smooth transition into the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.