Section 8 Fair Market Rent (FMR) for ZIP 48164 - 2027

Location: Monroe, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area

Investment Score for ZIP 48164

Monthly Rent (2BR)

$1,930

Median Price (2BR)

$240,523

1% Rule

0.8%

Annual Yield

9.63%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,380
1 Bedroom	$1,540
2 Bedrooms	$1,930
3 Bedrooms	$2,350
4 Bedrooms	$2,560
5 Bedrooms	$2,970
6 Bedrooms	$3,326
7 Bedrooms	$3,592
8 Bedrooms	$3,772

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,930	$240,523	0.8%	C
3BR	$2,350	$352,701	0.67%	D
4BR	$2,560	$446,448	0.57%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

9,576

Median Household Income

$107,827

Housing Units

3,603

Renter Percentage

5.1%

Occupancy Rate

97.9%

Renter Occupied

181

The Huron, MI area, specifically ZIP code 48164, offers a unique opportunity for real estate investors interested in both rental and homeownership markets. Nestled along the shores of Lake Huron, this region provides a blend of natural beauty and economic stability that can be leveraged for investment success.

The Fair Market Rent (FMR) for ZIP 48164 in fiscal year 2024 is set at $1,670, providing a benchmark for the minimum rent landlords should aim to achieve to remain competitive.
The actual market rent, as reported by the Census American Community Survey (ACS), stands at $1,712. This figure slightly exceeds the FMR, indicating a robust demand for rental properties in the area.
The median home value in Huron, MI is $339,400, which reflects the overall affordability and desirability of owning property in this region.
Renters make up only 5.1% of the population, suggesting that the majority of residents prefer homeownership over renting, which could influence the type of investment strategies landlords might consider.
The median income in ZIP 48164 is $107,827, which is higher than the national average. This indicates a relatively affluent community that can support higher rents and property values.
Unfortunately, the data on days on market (DOM) for rental listings is currently unavailable, which means there's no direct measure of how quickly rental units are being leased in this area.

Synthesizing these points, investors looking to enter the Huron, MI market should focus on properties that align with the higher median income levels, as this suggests a strong potential for higher rent prices. The slight premium of market rent over FMR is a positive sign, but the low renter share indicates that the market may be more suited to long-term investments in single-family homes rather than multi-unit rental complexes. Given the median home value, it's clear that the area is also attractive for those looking to invest in the homeownership market, potentially through fix-and-flip projects or long-term ownership. The absence of DOM data makes it difficult to assess the speed at which properties are leased, so investors might want to gather additional local insights to better understand the leasing dynamics.

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.