Location: Monroe, MI | Metro: Monroe, MI MSA
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 | $940 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $233,888 | 0.58% | F |
| 3BR | $1,650 | $288,090 | 0.57% | F |
| 4BR | $2,230 | $373,282 | 0.6% | F |
| 5BR | $2,587 | $435,545 | 0.59% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 48144, located in Lambertville, Michigan, within the Monroe, MI MSA, reveals several key points regarding its viability for Section 8 landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 48144 in fiscal year 2024 is set at $1,250. However, the market rent as reported by the Census ACS is $1,141. This indicates that the FMR is slightly higher than the current market rent, which could be advantageous for landlords participating in the Section 8 program, as they can potentially receive higher rents compared to what the market offers.
Regarding the affordability of acquisitions, the median home value in ZIP 48144 is $302,487. With no available data on days on market (DOM) or the percentage of homes requiring price cuts, it's challenging to gauge how competitive the housing market is. However, the median home value suggests that property acquisition costs are moderate, likely within reach for many investors.
Lastly, the tenant demand in ZIP 48144 needs to be considered. The total population is 10,507, with only 5.3% of residents being renters. This low renter share implies that there might not be a substantial demand for rental properties in this area, which could affect occupancy rates and the overall attractiveness of the market for landlords.
In conclusion, ZIP 48144 presents a mixed picture for Section 8 investors. While the FMR is favorable compared to market rent, indicating potential profitability, the low renter share poses a challenge to tenant demand. Additionally, the median home value suggests that acquisitions are feasible but not particularly cheap. Investors should weigh these factors carefully and consider supplementing their analysis with local market trends and demand forecasts to make informed decisions.
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.