Section 8 Fair Market Rent (FMR) for ZIP 48817 - 2027

Location: Shiawassee County, MI | Metro: Shiawassee County, MI

Investment Score for ZIP 48817

D
Monthly Rent (2BR)
$1,150
Median Price (2BR)
$149,791
1% Rule
0.77%
Annual Yield
9.21%

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$850
1 Bedroom$880
2 Bedrooms$1,150
3 Bedrooms$1,540
4 Bedrooms$1,740
5 Bedrooms$2,018
6 Bedrooms$2,260
7 Bedrooms$2,441
8 Bedrooms$2,563

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
2BR $1,150 $149,791 0.77% D
3BR $1,540 $216,468 0.71% D
4BR $1,740 $254,836 0.68% D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
5,416
Median Household Income
$55,194
Housing Units
2,576
Renter Percentage
29.5%
Occupancy Rate
95.1%
Renter Occupied
723

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.