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 | $1,010 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $177,826 | 0.73% | D |
| 3BR | $1,640 | $224,167 | 0.73% | D |
| 4BR | $1,700 | $296,227 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP code 48876, located in Potterville, MI within the Lansing-East Lansing, MI MSA, presents a distinct profile compared to the broader metropolitan area. The Fair Market Rent (FMR) for ZIP 48876 stands at $1,020 for fiscal year 2024, while the market rent is slightly higher at $1,138. This indicates that the rental market in Potterville is relatively affordable but still closely aligned with the overall Lansing-East Lansing MSA trends.
The median home value in ZIP 48876 is $222,765, which is notably lower than the average home value across the entire Lansing-East Lansing MSA. This suggests that Potterville offers a more budget-friendly option for homeownership within the metro area.
A key feature of ZIP 48876 is its substantial renter share of 29.8%. This figure is higher than the typical renter share in many ZIP codes within the Lansing-East Lansing MSA, which often hover around 20-25%. A higher renter share combined with below-average home values can be indicative of an area where Section 8 vouchers are more commonly utilized. Landlords and small-portfolio investors should take note of this potential alignment with government-assisted housing programs.
Based on these metrics, ZIP 48876 appears to be a value pocket within the Lansing-East Lansing MSA. It offers relatively low-cost housing options both in terms of home values and rents, making it attractive for renters who might rely on Section 8 vouchers. For investors, this means there could be a steady demand for rental properties due to the higher proportion of renters and the affordability of the area.
However, the slightly higher market rent compared to the FMR also suggests that there might be some upward pressure on rents, possibly due to the higher renter share and limited supply of affordable homes. This dynamic can create opportunities for investors who are willing to manage properties that cater to the needs of Section 8 tenants.
In summary, ZIP 48876 represents a unique opportunity for real estate investment within the Lansing-East Lansing MSA, particularly for those interested in leveraging Section 8 programs. Its characteristics align well with being a value pocket, offering a blend of affordability and a significant number of potential renters.
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.