Location: Detroit-Warren-Livonia, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
| 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 |
ZIP code 48136, located within the Detroit-Warren-Livonian, MI HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1220 for fiscal year 2024. This figure represents the maximum amount that a voucher holder can pay towards their monthly housing costs. However, the specific market rent, home value, and renter share percentages for ZIP 48136 are currently unavailable.
To position ZIP 48136 within the broader context of the Detroit-Warren-Livonian metro area, we must rely on the available FMR data. The FMR of $1220 suggests that this ZIP code is likely to be a value pocket within the metro area. Typically, the FMRs across different ZIP codes within the same metropolitan statistical area vary based on local market conditions, with higher FMRs indicating more expensive markets and lower FMRs suggesting more affordable areas.
In the absence of specific market rent and home value data, it's reasonable to infer that if ZIP 48136 has an FMR below the average for the entire Detroit-Warren-Livonian metro, it could represent a more affordable option for both landlords and voucher holders. A value pocket is characterized by lower rents and home values compared to the metro average, making it attractive for tenants seeking affordable housing and for landlords looking to manage properties in a less competitive pricing environment.
The lack of detailed market rent and home value information prevents a direct comparison to other ZIP codes within the metro area. However, the FMR alone indicates that ZIP 48136 is positioned as an affordable neighborhood. To confirm whether it is indeed a value pocket, additional data on market rents and home values would be necessary. Until then, the lower FMR of $1220 compared to what might be expected in a more premium sub-market of the Detroit metro area supports the inference that 48136 is a more budget-friendly location.
Note that without specific renter share data, it's impossible to determine if 48136 exhibits characteristics that would make it particularly appealing for Section 8 tenants, such as a high concentration of renters in a relatively low-cost market. For landlords and small-portfolio investors, the affordability suggested by the FMR could indicate a stable, but not necessarily lucrative, investment opportunity.
Data Sources: FMR data from HUD (2027).
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.