Location: Lansing-East Lansing, MI | Metro: Ionia County, MI HUD Metro FMR Area
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 | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $222,202 | 0.64% | D |
| 3BR | $1,820 | $287,389 | 0.63% | D |
| 4BR | $2,210 | $336,252 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 48875, located in Portland, MI, presents an interesting scenario for both renters and landlords. The median household income stands at $94,216, which places financial constraints on the ability of residents to afford the market rate rent of $1,241 per month (ZORI). This makes up nearly 15% of the annual income, a significant portion that could strain budgets for many households.
Comparatively, the Fair Market Rent (FMR) set for ZIP 48875 for fiscal year 2024 is $1,310, slightly above the market rate. However, the Housing Choice Voucher Program aims to cover a portion of this cost, making it more manageable for tenants. For landlords, this means that voucher payments will align closely with the market rate, potentially offering a stable source of income.
With 21.1% of the 11,400 population being renters, the competition among landlords is relatively low. This translates into fewer rental properties available compared to the number of potential tenants, creating a somewhat favorable environment for landlords who wish to attract and retain tenants.
The affordability gap in Portland, MI, highlights the challenge renters face when trying to secure housing without assistance. For landlords, this suggests that those willing to accept vouchers might have a competitive edge over those relying solely on market-rate rents. The strategy should be to balance the acceptance of vouchers with the pursuit of cash-paying tenants, considering the slight discrepancy between the ZORI and the FMR.
In summary, landlords in ZIP 48875 should recognize the value of accepting vouchers, given the close alignment with market rates and the potential for securing long-term tenants. While cash-paying tenants can offer immediate stability, the voucher program ensures a steady stream of income and helps meet the needs of a financially constrained segment of the population.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.