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 | $1,160 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $221,533 | 0.75% | D |
| 3BR | $2,030 | $310,612 | 0.65% | D |
| 4BR | $2,740 | $431,149 | 0.64% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48179, South Rockwood, MI, in fiscal year 2024 is set at $1460. This figure represents the payment standard for landlords participating in the Section 8 program, which is the maximum amount that the Housing Choice Voucher program will pay toward a tenant's rent. It is important to note that this is not necessarily the rent you would charge your tenants; it is the ceiling on what the government will contribute.
In comparison, the average market rent for the area, according to the latest Census American Community Survey (ACS), is approximately $1350. This indicates that the FMR is slightly higher than the typical rent in the area, which can be beneficial for landlords who want to ensure they receive a competitive rate.
The 22.5% renter share in South Rockwood suggests that nearly one-quarter of the households in this ZIP code are renters. This percentage provides insight into the potential demand for rental properties in the area. If you're looking to enter the rental market, particularly with a Section 8 property, this demand level can help support your investment.
When acquiring a new rental property, consider the median home value of $305,721. This figure gives you an idea of the typical cost of homes in the area and can help you evaluate whether the potential income from a Section 8 rental will justify the purchase price over time.
Before deciding to pull the trigger on your first Section 8 rental in South Rockwood, verify that the property meets all the necessary criteria for the program. This includes ensuring that the property is in good repair and passes a thorough inspection to meet the Housing Quality Standards (HQS). This step is crucial because failing to meet these standards can result in disqualification from the program and potential financial losses.
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.