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 | $1,570 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,190 |
| 3 Bedrooms | $2,670 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,670 | $514,507 | 0.52% | F |
| 4BR | $2,900 | $735,968 | 0.39% | F |
| 5BR | $3,364 | $946,404 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 48374 has a population of 17,672, with only 11.2% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, which suggests that the demand for housing vouchers under the Section 8 program may be relatively low. The median household income in this ZIP code stands at $182,827, reflecting a high-income demographic.
The market rent in ZIP 48374 is $2,548 per month. To put this into perspective, the typical rent consumes approximately 14% of the local median income. This percentage is calculated by dividing the monthly rent by the annual median income and multiplying by 12. The Federal Market Rent (FMR) for FY 2024 in this ZIP is $1,940, indicating that the market rent is higher than the federally determined fair market rent.
Given these figures, landlords in ZIP 48374 should expect tenants who can afford market rates without relying heavily on housing vouchers. The high median income relative to the market rent means that most residents can cover their rental costs independently. However, there will still be a segment of the population eligible for Section 8 vouchers, though it will likely be smaller compared to areas with higher percentages of renters.
To summarize, ZIP 48374 is not a renter-heavy area with deep voucher demand. Instead, it is a high-income ZIP code where the majority of residents own homes, and those who rent can typically afford market rates. Landlords should prepare for a tenant pool that includes some individuals with Section 8 vouchers but predominantly consists of tenants paying full market rent.
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.