Section 8 Fair Market Rent (FMR) for ZIP 48059 - 2027

Location: Detroit-Warren-Livonia, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area

Investment Score for ZIP 48059

Monthly Rent (2BR)

$1,200

Median Price (2BR)

$207,172

1% Rule

0.58%

Annual Yield

6.95%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$960
2 Bedrooms	$1,200
3 Bedrooms	$1,460
4 Bedrooms	$1,590
5 Bedrooms	$1,844
6 Bedrooms	$2,065
7 Bedrooms	$2,230
8 Bedrooms	$2,342

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,200	$207,172	0.58%	F
3BR	$1,460	$273,471	0.53%	F
4BR	$1,590	$363,355	0.44%	F
5BR	$1,844	$453,424	0.41%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

15,499

Median Household Income

$80,062

Housing Units

7,422

Renter Percentage

16.9%

Occupancy Rate

89.7%

Renter Occupied

1,122

Fort Gratiot, located in ZIP code 48059, is a part of the larger St. Clair Shores metropolitan area in Michigan. This region offers a mix of suburban living and proximity to urban amenities, making it attractive for both homeowners and renters.

The Fair Market Rent (FMR) for ZIP 48059 is set at $1,170 for fiscal year 2024, indicating the government's benchmark for rental affordability.
The average market rent in the area is currently $994, according to the latest Census American Community Survey (ACS) data, which is below the FMR, suggesting potential room for growth in rental rates.
The median home value in Fort Gratiot stands at $262,988, reflecting the typical price range for residential properties in the area.
Renters make up 16.9% of the housing market, showing a moderate demand for rental units but also highlighting that the majority of residents prefer owning their homes.
The median income in the ZIP code is $80,062, providing insight into the financial stability of the local population and their ability to afford higher rents or property values.
Unfortunately, the data on days on market (DOM) for rentals is not available, which could have provided further insights into the speed at which rental properties are typically occupied.

The data points suggest that while there is a stable rental market in Fort Gratiot, the current market rent is lower than the government's benchmark, indicating potential opportunities for landlords to increase rental prices. The moderate renter share and high median income support this notion, as they imply a financially capable population that can sustain higher rents. However, the lack of DOM data makes it challenging to assess how quickly new rental listings are filled, which is crucial for understanding the dynamics of the rental market and planning investment strategies accordingly.

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.