Location: Jackson, MI | Metro: Ann Arbor, 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 | $1,230 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,500 | $215,659 | 0.7% | D |
| 3BR | $1,790 | $369,688 | 0.48% | F |
| 4BR | $1,980 | $450,879 | 0.44% | F |
U.S. Census Bureau data (2024)
The market in ZIP 48158, Manchester, MI, is characterized by a strong rental sector relative to the Fair Market Rent (FMR). The FMR for the area stands at $1250 for fiscal year 2024, while the actual market rent, according to Census ACS data, is recorded at $948. This indicates that there is a gap between the government-set benchmark and the prevailing market conditions, suggesting that the rental market is robust but perhaps not overheated.
The median home value in Manchester is $378,455, which places homeownership within reach for many residents. However, the lack of specific data on price-cut shares and days on market (DOM) prevents a definitive conclusion on whether supply is currently outpacing demand or vice versa. Nonetheless, the relatively low market rent compared to the FMR suggests that there may be a balance in the rental market, or even a slight surplus of units, allowing rents to remain below the FMR threshold.
A noteworthy figure is the 9.9% renter share, indicating that nearly one-tenth of the population lives in rented accommodation. While this percentage might seem modest, it points to a significant segment of the population that relies on the rental market, creating sustained demand. Over the long term, this can translate into consistent pressure on the housing market, particularly if job growth or other economic factors increase the attractiveness of the area for renters.
The dynamics of the market in Manchester suggest an environment where both rental and homeownership options coexist, catering to different segments of the population. Landlords and small-portfolio investors can expect a steady demand for rental properties, though the potential for rapid appreciation or vacancy rates remains uncertain without additional time-series data.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.