Location: Detroit-Warren-Livonia, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
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 | $1,370 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,330 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,530 | $116,251 | 1.32% | A |
| 2BR | $1,910 | $192,837 | 0.99% | C |
| 3BR | $2,330 | $356,872 | 0.65% | D |
| 4BR | $2,520 | $443,194 | 0.57% | F |
| 5BR | $2,923 | $503,662 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 48334, located in Farmington Hills, MI, has a population of 19,618. With 37.1% of residents being renters, it indicates a moderate rental market rather than a heavy one. The median household income stands at $102,228, which is relatively high compared to national averages. Given the market rent of $1,817, this represents approximately 17.8% of the median household income, suggesting that typical rents are affordable for most residents.
When comparing the market rent to the Fair Market Rent (FMR) of $1,680 for FY 2024, we see that the market rent is slightly higher. This discrepancy could be due to the higher income levels in the area, which can support higher rents. However, landlords should note that the demand for Section 8 vouchers might be lower in this ZIP code because of the overall higher income levels and the fact that it is not predominantly a renter-heavy area.
In terms of the tenant profile, landlords in ZIP 48334 can expect tenants who are likely to have stable employment and income sources. While there will be some tenants using Section 8 vouchers, the majority of potential renters will likely be paying market rates. These tenants are generally reliable and capable of meeting their financial obligations, including rent payments.
To summarize, ZIP 48334 is not an area with deep voucher demand. It is a middle-ground scenario with a mix of homeowners and renters. The income levels suggest that typical market rents consume a reasonable portion of the average income, making it feasible for most renters to afford housing without relying on subsidies. Landlords should prepare for a tenant base that is financially stable and willing to pay market rates, though they may occasionally encounter applicants seeking assistance through Section 8 vouchers.
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.