Location: Saginaw, MI | Metro: Saginaw, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
69.7% of residents in ZIP code 48724 are renters, indicating a strong demand for rental properties. This high percentage suggests that landlords can expect consistent occupancy rates. The Fair Market Rent (FMR) for ZIP 48724 in fiscal year 2024 is set at $1040, which provides a benchmark for rental pricing. While the market rent and median home value data are currently unavailable, the median income of $34,512 offers insight into the financial capabilities of potential tenants. Landlords should consider that the average tenant's income would cover approximately three months' worth of FMR rents, assuming no other significant expenses. The lack of available data on days on market (DOM) and the percentage of price-cut shares makes it challenging to assess the competitive landscape and the speed at which properties are rented out. However, given the high renter share, it is reasonable to assume that landlords can maintain competitive pricing without frequent need to lower their rates. For small-portfolio investors, focusing on properties that offer good value and amenities within the $1040 FMR range will likely attract a steady stream of tenants. The Section 8 Housing Choice Voucher program can be a reliable source of income, especially considering the high renter share and the established FMR. Landlords in ZIP 48724 should ensure their properties meet the necessary standards to qualify for Section 8, thereby securing a stable tenant base. Given the strong rental market and the clear FMR guidelines, ZIP 48724 is verdict: suitable for Section 8 participation.
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.