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 | $1,000 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $148,869 | 0.93% | C |
| 3BR | $1,690 | $247,406 | 0.68% | D |
| 4BR | $1,840 | $316,487 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP code 48093, located in Warren, MI, hosts a population of 25,014 residents, with 25.5% being renters. The median household income in this area is $68,218, which provides a foundation for understanding the economic landscape.
The market rent for ZIP 48093 is currently set at $1,465. This represents approximately 21.5% of the median household income, indicating that a significant portion of local incomes is allocated towards housing costs. However, the Fair Market Rent (FMR) for the area, as determined by HUD for FY 2024, is $1,200. This suggests that there is a notable gap between the market rent and the FMR, potentially making it challenging for tenants relying solely on Section 8 vouchers to afford market-rate rentals without additional financial assistance.
The demand for rental properties among Section 8 tenants can be inferred from the percentage of renters in the area. With nearly one-quarter of the population renting, there is a substantial pool of potential tenants who could benefit from the voucher program. However, the fact that the majority of the population owns homes rather than rents implies that the overall housing market is somewhat balanced, but with pockets of high rental demand.
A landlord in ZIP 48093 should expect a tenant profile that includes individuals and families who are likely to have a mix of income sources. Some will rely heavily on Section 8 vouchers, while others might supplement their voucher with personal funds to meet market rates. Given the income levels and the current market rent, these tenants would need to find ways to cover the excess above the FMR of $1,200.
To attract and retain Section 8 tenants, landlords must ensure they comply with HUD regulations and maintain properties that meet the required standards. Additionally, being flexible with rent pricing or offering incentives such as utilities included in the rent can make listings more appealing to voucher holders.
In conclusion, ZIP 48093 presents a moderate opportunity for landlords interested in Section 8 tenants, given the sizeable rental population and the alignment of the median income with the market rent. However, landlords must be prepared to navigate the complexities of working with the voucher system and understand the financial constraints faced by many tenants.
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.