Location: Gratiot County, MI | Metro: Lansing-East Lansing, MI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
ZIP code 48871 is not predominantly a renter-heavy area, with only 17.4% of residents classified as renters. This indicates that the majority of the population owns their homes, suggesting that the demand for housing vouchers, such as those provided through Section 8, is likely to be lower compared to areas with higher percentages of renters.
The median household income in ZIP 48871 is $84,803, which is relatively high. In comparison, the typical market rent is $1,048, meaning that rent consumes approximately 12.4% of the median household income. This calculation is derived from dividing the market rent by the median income and multiplying by 100. The Fair Market Rent (FMR) for the area, set at $1,060 for FY 2024, is slightly above the current market rent, indicating that the rental market in this ZIP code is close to the federally determined fair market rate.
A landlord in ZIP 48871 should anticipate a tenant profile that includes individuals who can afford a substantial portion of their income towards rent. While some tenants might seek assistance through housing vouchers, the overall demand for such subsidies is expected to be modest given the higher median income levels. Tenants in this area are likely to have stable employment and financial situations, aligning with the general economic conditions of the ZIP code.
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.