Location: Huron County, MI | Metro: Huron County, MI
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 | $720 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $174,418 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 48413 presents an interesting scenario for both renters and landlords. With a median household income of $58,346, residents face significant challenges in affording the market rate rent of $749 per month. This figure represents a substantial portion of their monthly earnings, making it difficult for many households to comfortably cover rent expenses.
To put this into perspective, the Fair Market Rent (FMR) as determined for the metro area in fiscal year 2026 is set at $970. This means that the government's standard for voucher payments is significantly higher than the current market rate. However, the discrepancy between the median income and the FMR highlights a notable affordability gap for tenants.
In ZIP 48413, where approximately 24% of the 7,288 residents are renters, this gap could lead to increased competition among landlords. Those who accept vouchers might find themselves with a more stable tenant base, as voucher recipients have guaranteed rental support. On the other hand, landlords who focus on cash-paying tenants must ensure their rents are competitive and affordable to attract and retain residents.
The takeaway for landlords considering their strategy should be to weigh the benefits of accepting vouchers against the potential for higher occupancy rates with lower, more affordable rents. Accepting vouchers can provide a steady stream of income but requires compliance with HUD regulations. Opting for cash-paying tenants might offer more flexibility but demands careful attention to pricing to remain attractive in a market where affordability is a concern.
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.