Location: Tuscola County, MI | Metro: Detroit-Warren-Livonia, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The median income in ZIP 48727 stands at $64,583, which paints a picture of financial constraints when it comes to housing costs. The market rate for rent, according to Census ACS data, is set at $950. This figure represents a significant portion of the average household's earnings, indicating that many residents might find it challenging to meet these rental costs without assistance.
Comparatively, the Fair Market Rent (FMR) standard for voucher payments in ZIP 48727 for fiscal year 2024 is set higher at $1100. This suggests that while market rates are lower, the government's assessment of what constitutes a fair rent is closer to the voucher payment level. This discrepancy could imply that landlords who accept vouchers might be better compensated relative to market conditions.
With only 7.2% of the 958 population being renters, the competition among landlords is likely to be fierce. The limited number of renters means that landlords must be strategic in their pricing and offerings to attract tenants. Given the affordability gap between the median income and both market and voucher rent rates, landlords who accept vouchers may have an edge in securing tenants.
For landlords considering whether to accept Section 8 vouchers or rely solely on cash-paying tenants, the data points towards a preference for vouchers. The $1100 voucher payment aligns more closely with the government's definition of fair rent and provides a more stable income stream compared to the variable and often lower market rates. Additionally, accepting vouchers can help landlords tap into a pool of potential tenants who might otherwise struggle to afford living in ZIP 48727.
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.