Location: Lansing-East Lansing, MI | Metro: Lansing-East Lansing, MI MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $197,683 | 0.71% | D |
| 3BR | $1,780 | $281,455 | 0.63% | D |
| 4BR | $1,840 | $345,323 | 0.53% | F |
| 5BR | $2,134 | $414,753 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 48854, located in Mason, MI, has a population of 19,529 residents, with 17.0% being renters. This indicates that the majority of the population (83%) are homeowners, suggesting that this area is primarily dominated by homeowners rather than renters. The median household income in this ZIP code is $94,716, which is notably higher than the typical market rent of $1,202 per month.
To understand the financial impact on potential tenants, consider that the average rent of $1,202 consumes approximately 12.7% of the median household income. This calculation is derived from dividing the monthly rent by the annual median income ($1,202 / $94,716 * 12 months). Given the Federal Market Rent (FMR) for FY 2024 is $1,170, the market rent in Mason, MI, slightly exceeds this benchmark, but not significantly enough to deter most renters.
A landlord in Mason, MI, can expect a tenant pool that is financially stable. The typical tenant will likely have a household income above the median, making them capable of affording the market rent without it consuming an excessive portion of their income. While there is a presence of Section 8 vouchers, the overall demand is not as deep as it would be in areas with a higher percentage of renters. The combination of a moderate rental market and a relatively high median income supports a scenario where tenants can manage their rent payments effectively, even if they receive some assistance through vouchers.
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.