Location: Tuscola County, MI | Metro: Flint, MI MSA
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 | $810 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $171,846 | 0.68% | D |
| 3BR | $1,500 | $245,512 | 0.61% | D |
| 4BR | $1,540 | $301,560 | 0.51% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 48415, located in Birch Run, MI, within the Tuscola County, MI metro area, reveals several key points that landlords and small-portfolio investors should consider.
First, let's examine if the rent math works. The Fair Market Rent (FMR) for ZIP 48415 in fiscal year 2024 is set at $1100. However, the Census American Community Survey (ACS) reports a market rent of $992. This indicates that the rent set by the FMR is higher than what the market currently supports, suggesting that landlords might need to adjust their expectations or improve their properties to justify the higher rent.
Second, we look at whether acquisition is affordable. The median home value in ZIP 48415 stands at $231,764. Unfortunately, the data on days on market (DOM) and the percentage of homes requiring price cuts is not available. This makes it difficult to assess how quickly homes sell and at what discount rate, but the median home value provides a baseline for investment costs.
Third, we must evaluate the tenant demand. With a population of 8,918, only 11.7% are renters. This low percentage suggests a limited pool of potential tenants, which could impact occupancy rates and make it challenging to find and retain renters.
In summary, while the median home value in ZIP 48415 is relatively affordable at $231,764, the discrepancy between the FMR of $1100 and the market rent of $992 means that landlords will have to be cautious about setting rental prices. Furthermore, the low renter share of 11.7% implies that tenant demand is weak, which could affect the ability to fill units and maintain steady cash flows. Therefore, investors should proceed with caution and carefully consider these factors before making any investment decisions in this ZIP code.
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.