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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $243,880 | 0.55% | F |
U.S. Census Bureau data (2024)
ZIP code 48460, located within Shiawassee County, MI, presents a unique profile when compared to other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 48460 in fiscal year 2024 is set at $910. This figure is higher than the market rent of $704, indicating that properties here are eligible for higher rental subsidies under the Section 8 program.
The median home value in ZIP 48460 stands at $242,748, which is a key metric for understanding the overall housing market. When juxtaposed against the typical Shiawassee County ZIP codes, this home value suggests that 48460 is neither a value pocket nor a premium sub-market but rather falls into the mid-tier category. However, the presence of a 14.5% renter share, slightly above average, combined with below-metro home values, could signal a favorable area for Section 8 participation.
To further contextualize the position of ZIP 48460, it's essential to consider how the FMR and market rent diverge. The FMR being significantly higher than the market rent implies that there is potential for landlords to receive higher subsidy payments while still renting out their properties at competitive local rates. This can be particularly advantageous for landlords looking to maximize their returns without setting rents unreasonably high.
The renter share of 14.5% also provides insight into the demand for rental properties in this ZIP code. While not exceptionally high, it does suggest a steady need for affordable housing options, making it an attractive location for small-portfolio investors interested in Section 8 tenants. The combination of these factors—mid-tier home values, a modestly above-average renter share, and a favorable FMR-market rent gap—positions ZIP 48460 as a promising sub-market within Shiawassee County for those involved in Section 8 real estate.
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.