Location: Shiawassee County, MI | Metro: Saginaw, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
15.7% of residents in ZIP 48841 are renters, indicating a modest demand for rental properties in the area. The $950 Fair Market Rent (FMR) for zip code 48841 as of fiscal year 2024 is a key figure for landlords and investors considering the rental market. This compares to the $915 market rent reported by the Census Bureau's American Community Survey, suggesting that the FMR is slightly above the average market rent. For those interested in property values, the median home value stands at $180,867, which provides a benchmark for investment opportunities in the area.
$60,156 is the median income for ZIP 48841, which is an important indicator for the financial health of potential tenants and the overall economic stability of the region. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut share, these figures can be inferred to be relatively stable given the modest renter share and median income levels. The slight difference between the FMR and the market rent suggests that while there might be some room for negotiation, the rental market is not overly competitive.
The $950 FMR is particularly relevant for Section 8 investors, as it sets the maximum allowable rent for subsidized housing. Given the $915 market rent, landlords participating in the Section 8 program could expect their rents to be slightly higher than the average market rate, providing a stable and predictable income stream. However, the absence of detailed DOM and price-cut share data means that landlords must be cautious about overpricing their units, as the local market may not support significantly higher rents.
In conclusion, for ZIP 48841, the combination of a moderate renter share, a median income that supports rental payments, and an FMR that is only slightly above the market rent makes it a viable location for Section 8 investments. The Section 8 program offers a reliable source of tenants, ensuring a steady cash flow for landlords. Verdict: ZIP 48841 is suitable for Section 8 investments.
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.