Location: Shiawassee 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 | $920 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,660 | $248,092 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 48449, located in Michigan, presents an interesting scenario for both renters and landlords. The median income for households in this area stands at $69,545, which places them in a position to potentially afford the market rate rent of $1,146. However, the reality of affordability is more nuanced when considering the actual cost of living and other expenses.
To put this into perspective, let's examine how the market rate compares to the Federal Market Rent (FMR) payment standard of $970 for ZIP 48449 in fiscal year 2024. This means that for a household receiving a housing voucher, they would only be required to pay the difference between the market rate and the FMR, which comes out to $176 per month. This significant reduction in monthly rental costs makes housing much more accessible for low-income families.
Given the population of 2,744 and the relatively low percentage of renters at 11.6%, the competition among landlords in this ZIP code is likely to be fierce for those units that are rented out. Landlords who accept vouchers will have a steady stream of tenants who are financially supported by the government to meet their rent obligations. On the other hand, landlords who focus on cash-paying tenants might find themselves with fewer options, especially if these potential renters are already stretched thin by the higher market rates.
The takeaway for landlords is clear: accepting vouchers can provide a stable source of income and reduce vacancy rates, given the financial support they offer to tenants. While the immediate payment might be lower compared to market rates, the security of consistent rent and reduced turnover costs can make it a viable strategy. For landlords considering whether to accept vouchers or aim for cash-paying tenants, the data suggests that vouchers can be a reliable option in ZIP 48449.
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.