Location: Detroit-Warren-Livonia, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
Allen Park, located in Wayne County, Michigan, is a residential area with a population of 27,925. The ZIP code 48101 stands out due to several key metrics that define its housing landscape. Only 12.7% of the residents rent their homes, indicating a predominantly owner-occupied community. The median household income is $81,655, which is relatively strong for the region. However, the median home value at $206,297 suggests a mixed housing market where affordability and property values coexist.
The economics of Section 8 vouchers in Allen Park are favorable for landlords. The Fair Market Rent (FMR) for ZIP 48101 in fiscal year 2024 is set at $1,290, while the actual market rent, as measured by ZORI, is $1,220. This means that landlords can expect a slightly higher rent payment from Section 8 tenants compared to the average market rate, providing a margin that compensates for any potential risks associated with the program.
The data signature for ZIP 48101 reads as stable. With a low rental rate and a moderate median income, the majority of residents are likely able to afford homeownership without relying heavily on rental assistance. The slight premium offered by the Section 8 voucher program can be seen as an additional incentive for landlords to participate, ensuring steady tenant occupancy and predictable income streams.
Data Sources: FMR data from HUD (2027). 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.