Location: Flint, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 48423, located in Davison, MI within Genesee County, stands out due to its unique demographic and economic profile. With a population of 33,757 residents, it has a rental rate of 34.8%, indicating a significant portion of the community relies on leased properties. The median income in this area is $65,079, which is relatively strong compared to many other regions. However, the median home value of $254,463 suggests that homeownership is still quite affordable.
Moving into the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 48423 is set at $1100 for fiscal year 2024. This figure contrasts sharply with the actual market rent, measured by ZORI (Zillow Observed Rent Index), which is currently at $988. Landlords can leverage this difference to their advantage by offering units at the higher FMR rate, thus ensuring a steady income stream through the voucher program.
The data signature for ZIP 48423 reads as stable, with no immediate indicators pointing towards a transitional phase. The consistent income levels and the balance between rental and owner-occupied homes suggest a settled community. However, the disparity between FMR and market rent could signal potential shifts in the local housing market dynamics, especially if more landlords start participating in the Section 8 program to capitalize on the higher rent rates.
Data Sources: FMR data from HUD (2027). 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.