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 | $1,040 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,760 | $530,676 | 0.33% | F |
| 4BR | $1,910 | $620,496 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 48370 stands out due to its unique demographic and economic characteristics. With a total of 1,777 residents, it has a very low rental rate of only 2.4%, indicating that most of the population owns their homes. The median income of $131,111 suggests a relatively affluent area, while the median home value of $556,908 further reinforces the high cost of living and property values in this ZIP code.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 48370 is set at $1290 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors who wish to participate in the Housing Choice Voucher program. However, the lack of available market rent data for comparison makes it challenging to gauge how competitive this FMR is relative to the actual rental market in the area. Given the low rental rate, it's likely that there is limited demand for rental properties overall, which could affect the number of tenants seeking Section 8 assistance.
Based on the provided data, ZIP 48370 appears to be a stable area with a strong homeownership base and high median incomes. The absence of significant rental activity and the specific FMR for Section 8 indicate that the area is less reliant on rental subsidies compared to other ZIP codes with higher rental rates. Landlords and investors should carefully consider the local market dynamics before deciding to accept Section 8 vouchers, as the supply of rental units is limited and the demand for them may not be as robust as in more transitional areas.
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.