Location: Flint, 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 | $740 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $880 | $27,104 | 3.25% | A+ |
| 2BR | $1,060 | $44,957 | 2.36% | A+ |
| 3BR | $1,300 | $81,921 | 1.59% | A+ |
| 4BR | $1,510 | $108,200 | 1.4% | A |
| 5BR | $1,752 | $130,382 | 1.34% | A |
U.S. Census Bureau data (2024)
ZIP code 48503, located in Flint, Michigan, is predominantly a renter-heavy area with significant voucher demand. With a population of 22,347, nearly half (49.3%) of the residents are renters. This high percentage indicates a robust market for rental properties, especially those that can accommodate tenants using Section 8 vouchers.
The median household income in ZIP 48503 is $44,411. The average market rent of $1,008 represents approximately 27.2% of the local median income. Given that the Fair Market Rent (FMR) for FY 2024 is set at $1,020, it aligns closely with the actual market rent, suggesting that landlords in this area can reasonably expect to receive rents within the range of federal guidelines when dealing with Section 8 tenants.
This alignment between the FMR and market rent implies that there is a strong demand for housing subsidies among the population. Landlords in ZIP 48503 should anticipate tenants who rely on vouchers to cover their rent, making it a suitable location for those willing to participate in the Section 8 program. The expected tenant profile includes individuals and families whose income is below the area median, necessitating government assistance to afford housing.
In conclusion, ZIP 48503 presents an opportunity for landlords interested in serving a tenant base that heavily relies on Section 8 vouchers. The close match between the FMR and market rent underscores the necessity for subsidized housing in this community, where a significant portion of the population is renters and the cost of living is a considerable expense relative to income levels.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.