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 | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $380,164 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 48064 stands out in its county due to a unique blend of demographic and economic factors. With a population of 4,180 residents, only 5.3% rent their homes, indicating a strong preference for homeownership among the local populace. The median income in this area is $87,538, which is relatively high and suggests that most residents have a comfortable financial standing. Additionally, the median home value is $374,107, reflecting the significant investment in property within this ZIP.
Moving to the specifics of Section 8 housing vouchers, the Fair Market Rent (FMR) for ZIP 48064 in fiscal year 2024 is set at $1,100. This figure is slightly above the market rent, which is recorded at $1,091 according to the latest Census American Community Survey (ACS). This slight premium on the FMR over the market rent could make it an attractive option for landlords willing to participate in the Section 8 program, as they can expect to receive a rate that is marginally higher than the typical rental price.
The data signature of ZIP 48064 reads as stable. Despite the modest difference between the FMR and the market rent, the overall indicators point towards a consistent and financially secure environment for both residents and investors. Homeownership is prevalent, incomes are robust, and the rental market is steady, making this ZIP code a reliable choice for those considering long-term investments or participation in the Section 8 program.
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.