Section 8 Fair Market Rent (FMR) for ZIP 48347 - 2027

FY 2027 Fair Market Rent Rates

When considering whether to purchase a property in ZIP code 48347 for Section 8 investment, follow this decision tree:

1) Does the Fair Market Rent (FMR) of $1460 cover the debt service?

• Yes: If your property's debt service is less than $1460 per month, then the FMR can cover it. Proceed to the next question.
• No: If the debt service exceeds $1460, then this ZIP code is not financially viable for a Section 8 property without additional income sources or subsidies.

2) How does the market rent compare to the FMR?

• Above FMR: If the market rent is higher than $1460, then Section 8 tenants might not be the most profitable option. Consider other tenant types or areas with lower market rents.
• At or Below FMR: If the market rent matches or is below the FMR, then Section 8 is a suitable option for this area. Move to the next step.

3) Is there sufficient demand for rental properties?

• It Depends: Without specific percentages of renters and days on the market (DOM), it's difficult to quantify demand accurately. However, if the percentage of renters is substantial and the DOM is relatively low, indicating quick property turnover, this suggests a healthy demand for rental properties. If these conditions are met, the ZIP code could be a good investment for Section 8 properties.

Note: The data provided is incomplete with N/A values for key metrics such as market rent, percentage of renters, and DOM. To make an informed decision, you must gather these missing pieces of information. Once you have the full dataset, you can apply the decision tree above to determine if ZIP 48347 is a viable investment for Section 8 properties.

Data Sources: FMR data from HUD (2027).

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.