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 | $1,050 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $218,860 | 0.67% | D |
| 3BR | $1,790 | $249,023 | 0.72% | D |
| 4BR | $1,940 | $303,385 | 0.64% | D |
U.S. Census Bureau data (2024)
ZIP code 48092, located in Warren, MI, falls within the broader Detroit-Warren-Livonian, MI HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,310, which is lower than the market rent of $1,811. The median home value in 48092 is $241,893, and the renter share stands at 22.3%. These figures can be used to assess the relative position of 48092 within its metro area.
The FMR of $1,310 in ZIP 48092 is likely below the average for the entire Detroit-Warren-Livonian metro area, indicating that it may represent a value pocket where housing assistance can go further. This is particularly evident when comparing the FMR to the actual market rent of $1,811, suggesting that landlords could potentially offer competitive rents while still benefiting from the higher market rates.
The median home value of $241,893 in 48092 is also indicative of a value pocket within the metro area. While the exact metro-wide median home value isn't specified, a home value below the metro average suggests that Warren offers more affordable housing options compared to other parts of the Detroit-Warren-Livonian area. This makes it attractive for both first-time homebuyers and investors looking for properties with growth potential.
A notable aspect of ZIP 48092 is its renter share of 22.3%, which is higher than many areas within the metro that might have lower shares due to various factors such as homeownership preferences or economic conditions. This higher renter share combined with below-average home values can signal a sweet spot for Section 8 landlords and small-portfolio investors, as there is a significant population of renters who rely on housing vouchers, providing a steady stream of tenants.
In conclusion, based on the provided data, ZIP 48092 appears to be a value pocket within the Detroit-Warren-Livonian metro area. It offers lower FMRs and home values compared to the overall metro, coupled with a relatively high renter share. This combination makes it an attractive market for those seeking to leverage Section 8 housing programs.
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.