Section 8 Fair Market Rent (FMR) for ZIP 48634 - 2027

Location: Midland, MI | Metro: Bay City, MI MSA

Investment Score for ZIP 48634

Monthly Rent (2BR)

$1,080

Median Price (2BR)

$171,676

1% Rule

0.63%

Annual Yield

7.55%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$840
2 Bedrooms	$1,080
3 Bedrooms	$1,380
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,080	$171,676	0.63%	D
3BR	$1,380	$223,658	0.62%	D
4BR	$1,520	$316,236	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,334

Median Household Income

$87,992

Housing Units

2,082

Renter Percentage

2.8%

Occupancy Rate

92.1%

Renter Occupied

Linwood, MI, located in ZIP code 48634, is a small community that offers a unique blend of rural charm and suburban convenience. The local real estate market reflects these characteristics, with a mix of housing options available to both homeowners and renters. Here's a concise market analysis based on key metrics:

The Fair Market Rent (FMR) for ZIP 48634 is set at $910 per month for fiscal year 2024, indicating the government's benchmark for rental pricing.
According to the Census American Community Survey (ACS), the average market rent for the area is $751 per month, which is below the FMR and suggests a moderate demand for rentals.
The median home value in Linwood, MI is $201,794, reflecting a stable housing market with reasonable property values.
Renters make up only 2.8% of the population, highlighting a predominantly owner-occupied community where investment in rental properties may face challenges due to low tenant demand.
The median income in the area is $87,992, providing insight into the economic status of residents and their ability to afford housing.

The data points indicate that while the median home value is stable and the median income is relatively high, the low renter share and below-average market rent suggest limited opportunities for rental investments. Landlords and small-portfolio investors should focus on understanding the local economy and the reasons behind the low rental demand before making investment decisions in this area.

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.