Section 8 Fair Market Rent (FMR) for ZIP 48605 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 48605, located in the state of Michigan, offers a unique opportunity for real estate investors interested in the Section 8 housing market. This area is characterized by a mix of residential neighborhoods, providing a stable environment for both tenants and property owners.

• The Fair Market Rent (FMR) for ZIP 48605 is set at $1000 per month for fiscal year 2024, which represents the maximum amount that a voucher holder can be expected to pay towards their housing costs.
• Market rent data is currently unavailable for this ZIP code, making it difficult to compare private rental rates with those supported by the Section 8 program.
• The median home value in ZIP 48605 is also not available, suggesting limited data on the overall property values in the area.
• Renter share information is not provided, indicating an absence of precise data on the percentage of residents who are renters versus homeowners.
• The Days on Market (DOM) statistic is not available, which would typically indicate how quickly properties are rented out in this area.
• Middle-income data for ZIP 48605 is not available, thus we cannot provide insights into the average income levels of the residents here.

Despite the lack of comprehensive market data, the established Fair Market Rent at $1000 provides a solid benchmark for landlords and small-portfolio investors considering the Section 8 program. The absence of other key metrics suggests a need for further research to fully understand the dynamics of the local rental market. However, given the stability often associated with government-backed housing programs, investing in properties suitable for Section 8 tenants in ZIP 48605 can be a reliable strategy, particularly if the landlord is prepared to manage potential gaps in information regarding market conditions.

Data Sources: FMR data from HUD (2027).

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.