Location: Shiawassee County, MI | Metro: Shiawassee County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
ZIP code 48476, located within Shiawassee County, MI, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 48476 is set at $910 for fiscal year 2024, which is notably lower than the market rent of $1,250. This suggests that rental properties in 48476 are priced below what the market would naturally bear, indicating a potential value pocket for investors seeking to offer affordable housing options.
The median home value in 48476 stands at $161,100, which is likely below the average for Shiawassee County, given the typical higher market rents elsewhere. This discrepancy between lower FMR and lower home values can be seen as an opportunity for landlords and investors who focus on affordability, as it aligns well with the goals of the Section 8 program.
The renter share in ZIP 48476 is 5.1%, which is relatively low. However, this figure must be contextualized with the broader county metrics to determine if it indeed signals a sweet spot for Section 8 investments. If the overall renter share in Shiawassee County is significantly higher, then 48476 might be underutilized for rental opportunities, suggesting a potential for growth in this area.
To conclude, based on the provided figures, ZIP 48476 appears to be a value pocket within the Shiawassee County, MI metro. Its lower FMR and home values, combined with a modest renter share, indicate that it offers a niche for affordable housing investment, particularly for those interested in Section 8 participation. Landlords and small-portfolio investors should consider this ZIP code for its alignment with affordable housing initiatives and potential for steady, government-backed rental income.
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.