Section 8 Fair Market Rent (FMR) for ZIP 48437 - 2027

Location: Flint, MI | Metro: Flint, MI MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$840
2 Bedrooms	$1,010
3 Bedrooms	$1,250
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

279

Median Household Income

$40,864

Housing Units

215

Renter Percentage

21.6%

Occupancy Rate

88.4%

Renter Occupied

The analysis for the Section 8 program in ZIP code 48437 highlights a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the fiscal year 2024 is set at $910, whereas the Census American Community Survey (ACS) reports the market rent at $1,045. This represents a difference of $135, or approximately 14.8%, indicating that landlords can potentially earn higher yields by renting to voucher tenants.

Despite the lower FMR compared to market rent, the ZIP code 48437 presents an opportunity for landlords and small-portfolio investors due to the following factors:

Rental Population: With 21.6% of residents being renters, there is a notable demand for rental properties. This percentage suggests a steady pool of potential tenants who rely on housing vouchers.
Median Home Value: At $151,325, the median home value indicates that the area is affordable for middle-income families. This affordability can attract voucher holders looking for quality housing within their budget constraints.
Median Income: The median household income of $40,864 aligns with the financial needs of many voucher recipients. Landlords can leverage this income level to ensure a reliable stream of rental payments.

The cost of housing voucher tenants below open-market rates should be considered carefully. While landlords might receive slightly less rent than the market allows, the stability and security of receiving government-backed payments can offset the initial disparity. Additionally, the lower FMR does not necessarily translate into lower overall returns when factoring in the long-term reliability and reduced vacancy rates typical of voucher programs.

In conclusion, the gap between FMR and market rent in ZIP code 48437 presents a strategic opportunity for landlords and investors. By understanding the local context and the benefits of voucher programs, they can optimize their investments and achieve favorable yields.

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.