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 | $1,140 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,590 | $314,971 | 0.5% | F |
| 3BR | $1,940 | $411,463 | 0.47% | F |
| 4BR | $2,100 | $512,409 | 0.41% | F |
| 5BR | $2,436 | $561,530 | 0.43% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48350, Springfield, MI, is set at $1330 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the amount you will receive as rent; it's a payment standard.
To put this into context, the average rent in Springfield, MI, based on Census American Community Survey (ACS) data, is $1281. This means that the FMR under Section 8 is slightly higher than the typical market rate, which could be beneficial for landlords who want to ensure they cover their costs and make a profit.
With a renter share of 12.8%, there is a moderate demand for rental properties in the area. This percentage indicates the portion of households that rent rather than own their homes, suggesting that there are enough potential tenants to fill your property if you decide to participate in the Section 8 program.
If you're considering purchasing a property for your first Section 8 rental, the median home value in Springfield, MI, is approximately $429,404. This figure should help you estimate the initial investment required to acquire a property suitable for the program.
Before you proceed, verify that the property meets all the necessary criteria for Section 8 eligibility. This includes ensuring that the unit is safe, decent, and sanitary, and that it complies with the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD).
In summary, participating in the Section 8 program in ZIP code 48350 offers a defined maximum rent of $1330, which is slightly above the local average of $1281. With a 12.8% renter share, there is sufficient demand to fill your units. The median home value of $429,404 gives you an idea of the acquisition cost. However, the key step is to confirm that your property meets the HQS standards to avoid any issues down the line.
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.