Location: Lansing-East Lansing, MI | Metro: Ionia County, MI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 48873, located in Ingham County, part of the Lansing-East Lansing, MI MSA, reveals several key insights. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $960, while the Census American Community Survey (ACS) reports the market rent at $931. This means that voucher tenants will cashflow at the FMR rate, providing landlords and small-portfolio investors with a positive net operating income (NOI) without the need for premium units.
To further understand the investment potential, consider the median home value in the area, which stands at $271,359. Using this figure, we can calculate the rent-to-price ratio. At $931 per month, the annual rent would be $11,172. Dividing this by the median home value yields a rent-to-price ratio of approximately 4.1%, indicating a relatively stable rental market compared to home values.
In terms of rent-versus-buy dynamics, the median days on market (DOM) and the percentage of homes that have experienced price cuts are not applicable (N/A) in this analysis. However, these metrics typically help gauge the health of the housing market and could influence future investment decisions.
The strongest angle for investors in this market is cashflow. Given that the HUD FMR exceeds the market rent, landlords can expect consistent, positive cashflow from Section 8 voucher tenants without needing to offer premium units. This makes ZIP 48873 an attractive option for those looking to generate steady income through rental properties.
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.