Location: Gratiot County, 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 | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $212,556 | 0.54% | F |
| 3BR | $1,470 | $295,567 | 0.5% | F |
| 4BR | $1,520 | $329,266 | 0.46% | F |
| 5BR | $1,763 | $358,335 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP 48879, located in Saint Johns, MI, within the Gratiot County, MI metro area, can serve as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the favorable financial metrics specific to the area.
The Fair Market Rent (FMR) for ZIP 48879 in fiscal year 2024 is set at $960. This figure represents the maximum amount that a landlord can charge for a rental unit under the Section 8 program. In comparison, the market rent stands at $922, indicating a positive spread of $38 for landlords participating in the program. This spread ensures a stable and slightly above-market cash flow, which is essential for maintaining consistent revenue streams within a Section 8 portfolio.
The median home value in ZIP 48879 is $287,752, which suggests that property values are relatively stable and not subject to rapid appreciation. Given the low price-cut share of 0.2%, it's evident that there is little pressure on landlords to reduce their rents to attract tenants, further supporting the cash-flow anchor classification. The N/A-day Days on Market (DOM) indicates that properties are either rented quickly or that the data is insufficient to determine an average DOM, which could be due to the high demand for rental units in the area.
While the renter share of 17.9% is not exceptionally high, the median income of $79,129 provides a solid economic foundation for the area. This level of income ensures that tenants are likely to have a steady source of funding for their housing assistance payments, reducing the risk of default and ensuring reliable cash flows for landlords.
In conclusion, ZIP 48879 is best categorized as a cash-flow anchor within a Section 8 portfolio strategy. The positive spread between the FMR and market rent, combined with stable property values and a strong local economy, makes it an ideal choice for landlords seeking to maintain a predictable and healthy revenue stream.
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.