Location: Livingston County, 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 | $1,210 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $318,210 | 0.53% | F |
| 3BR | $2,150 | $447,557 | 0.48% | F |
| 4BR | $2,350 | $695,285 | 0.34% | F |
| 5BR | $2,726 | $845,637 | 0.32% | F |
U.S. Census Bureau data (2024)
Milford, MI, ZIP code 48380, is a high-income suburban neighborhood with a total population of 7,125 residents. The area has a very low rental rate at only 0.9%, indicating that it is predominantly owner-occupied. The median household income in this ZIP code is a robust $131,979, which is significantly above the national average. This wealth translates into a high median home value of $550,732, reflecting the quality and desirability of the housing stock.
The Federal Market Rent (FMR) for ZIP 48380 in fiscal year 2024 is set at $1,970. However, the market rent data is currently unavailable, which suggests that there is limited rental activity in this area. Given the low percentage of renters and the high median income levels, it is likely that the rental market is niche and catered towards higher-end properties that align with the local economic profile.
For a Section 8 investor, this ZIP code presents unique challenges and opportunities. Due to the scarcity of rental units, a hands-off voucher operator would face difficulties finding suitable properties to manage. The low rental rate indicates that there is little demand for traditional rental properties, making it an unsuitable environment for passive income through government-subsidized rentals.
On the other hand, a hands-on value-add buyer might find potential in this market. With the high median income and property values, there could be opportunities to renovate and manage higher-quality rental properties that appeal to the affluent demographic. Such an approach would require active management and possibly the development of new rental units to serve this exclusive market segment effectively.
In conclusion, ZIP 48380 in Milford, MI, is better suited for a hands-on investment strategy rather than a hands-off one. The high-income residents and expensive housing suggest a focus on premium rentals, where careful selection and active management can lead to successful outcomes for savvy investors.
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.