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 | $970 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,660 | $244,550 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 48890 hosts a population of 2,055 residents, with 22.3% being renters. This indicates that while there is a notable rental market, it is not heavily dominated by renters. The median household income stands at $79,444, which is relatively high compared to national averages. The market rent in this area is $1,033 per month.
Typical rent consumes approximately 13% of the local median income. This calculation is derived from dividing the market rent by the median income and multiplying by 100: ($1,033 / $79,444) * 100 = 13%. This figure suggests that while rent is not excessively burdensome, it still represents a significant portion of income for many households.
The Fair Market Rent (FMR) for ZIP 48890, as determined by HUD for FY 2024, is set at $960. This means that the actual market rent exceeds the FMR by about $73, indicating a slightly higher cost of living in this area relative to government standards. Landlords should note that tenants with Section 8 vouchers may find it challenging to cover the full rent without additional contributions.
A landlord in ZIP 48890 can expect a tenant profile that includes individuals and families who may require assistance in covering their housing costs. Given the high median income, these tenants might be working but have lower incomes due to various factors such as single parenthood, disability, or part-time employment. It's important for landlords to understand that while the rental market is present, it is not overwhelmingly driven by Section 8 voucher holders. Therefore, landlords should prepare to possibly accept some level of subsidy shortfall and manage properties with a mix of assisted and unassisted tenants.
To summarize, ZIP 48890 is not a renter-heavy area with deep voucher demand but rather a location where a moderate number of renters exist, with a fair amount of them likely needing financial assistance. The income levels suggest that while not impossible, renting at market rates can be a stretch for voucher recipients, necessitating a balance between affordability and property management expectations.
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.