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 | $790 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $31,599 | 2.97% | A+ |
| 2BR | $1,130 | $50,888 | 2.22% | A+ |
| 3BR | $1,390 | $119,984 | 1.16% | B |
| 4BR | $1,610 | $183,495 | 0.88% | C |
| 5BR | $1,868 | $188,154 | 0.99% | C |
U.S. Census Bureau data (2024)
The dynamics of ZIP 48507, located in Flint, Michigan, suggest a market in motion, where supply and demand are closely intertwined. The Fair Market Rent (FMR) for the area is set at $1040 for fiscal year 2024, while the actual market rent, as measured by Zillow's ZORI, stands at $966. This indicates that the rental market is slightly below the benchmark set by HUD, suggesting a competitive environment where landlords must be mindful of pricing to attract tenants.
A price-cut share of just 0.2% reveals that most properties are selling close to their asking prices, which could imply that the market is relatively stable, with few homes needing to be discounted to sell. The Days on Market (DOM) figure of 20 days further supports this notion, showing that homes are moving quickly once they hit the market, indicative of strong buyer interest.
The median home value in ZIP 48507 is $105,690, a figure that places it among the more affordable markets in the region. This affordability likely contributes to the 42.2% share of renters in the area. A high percentage of renters can be seen as a sign of long-term housing pressure, as it suggests that a significant portion of the population cannot afford to purchase homes. This pressure keeps the rental market active and potentially limits the growth of homeownership rates, which can have lasting effects on the local economy and property values.
In conclusion, ZIP 48507 appears to be a market where demand meets supply effectively, with quick sales and minimal price adjustments. The high renter share points to ongoing housing affordability challenges, which could sustain a robust rental market but also indicate a persistent barrier to homeownership. Landlords and small-portfolio investors should consider these factors when evaluating opportunities in Flint, Michigan.
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.