Location: Flint, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
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 | $830 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $254,281 | 0.46% | F |
| 3BR | $1,410 | $398,104 | 0.35% | F |
| 4BR | $1,530 | $473,156 | 0.32% | F |
| 5BR | $1,775 | $549,728 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 48462, located in Ortonville, MI, has a population of 13,279 residents, with only 5.6% being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy. The median household income stands at $105,699, which is relatively high compared to national averages.
The typical market rent in this ZIP code is $965 per month. To put this into perspective, $965 represents approximately 9.1% of the median household income. This suggests that rental costs are manageable for most residents, even those receiving housing assistance through vouchers.
Furthermore, the Fair Market Rent (FMR) for the fiscal year 2024 in ZIP 48462 is set at $1,190. This figure is higher than the current market rent, indicating that there might be some room for rent increases without becoming unaffordable for voucher recipients. The FMR serves as a benchmark for what is considered a reasonable rent in the area, and it's important for landlords to keep an eye on this figure to ensure their rents remain competitive and affordable.
In terms of voucher demand, given the low percentage of renters, it's likely that the number of tenants using Section 8 vouchers will also be limited. Landlords in this area should expect a tenant profile that includes individuals and families who may need financial assistance but still have access to higher incomes relative to the national average. This means that while some tenants may require vouchers, others might be able to afford higher rents due to their income levels.
Overall, ZIP 48462 is not a prime location for landlords looking to cater exclusively to Section 8 tenants due to its homeowner-dominated nature. However, for those willing to work with a mix of tenants, including some who use vouchers, the area offers a stable and potentially lucrative market. Landlords should focus on maintaining properties that meet the standards required for voucher usage while keeping rents slightly below the FMR to attract a broader range of tenants.
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.