Location: Flint, MI | Metro: Flint, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,330 |
| 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)
The ZIP code 48506, located in Flint, Michigan, has a population of 24,712 residents, with 31.4% being renters. This indicates a significant portion of the population relies on rental housing, making it a viable market for Section 8 tenants. The median household income in this area is $47,929, which is crucial when considering the affordability of housing.
The average market rent in ZIP 48506 is $894 per month, representing approximately 23% of the median household income. This percentage is relatively high, suggesting that typical rent consumes a substantial part of the average income. However, comparing this figure to the Fair Market Rent (FMR) of $1050 for FY 2024, we see that the actual market rent is lower, indicating a potential gap where Section 8 vouchers can play a significant role in bridging the cost of living.
Landlords in this ZIP code should anticipate a tenant pool heavily reliant on housing vouchers. Given the economic conditions and the high proportion of renters, there is likely to be a robust demand for affordable housing options that accept Section 8 vouchers. Tenants will most likely be individuals or families with low to moderate incomes who require financial assistance to meet their housing needs.
To summarize, ZIP 48506 presents itself as a renter-heavy area with a strong likelihood of deep voucher demand. Landlords should prepare for a tenant base that includes many who depend on government assistance to cover their monthly rent payments. With the median income at $47,929 and market rents at $894, the affordability of housing remains a critical issue, making Section 8 vouchers an essential component of the local rental market.
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.