Location: Lansing-East Lansing, MI | Metro: Barry 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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,570 | $282,859 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48897 in fiscal year 2024 is set at $960. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay to landlords who participate in the Section 8 program for a given unit. It's important to note that this is not the rent you'll charge your tenants directly; rather, it's the payment standard HUD uses to determine the subsidy amount.
To put this into perspective, the average rent in ZIP 48897, according to the latest Census American Community Survey (ACS) data, is $812. This means that the FMR is higher than the typical market rate, which could be beneficial for landlords looking to cover operating costs and still make a profit.
The 13.3% share of renters in this area indicates a moderate demand for rental housing. While this percentage is not exceptionally high, it does suggest that there is a reasonable number of potential tenants who might qualify for the Section 8 program. The average home value in the area is around $262,234, which gives an idea of the overall economic context and can help you estimate the acquisition cost if you're looking to purchase a property for your Section 8 rental.
Before committing to a Section 8 rental, ensure you verify the condition of the property against HUD’s Housing Quality Standards (HQS). These standards are designed to ensure that all units participating in the program meet basic safety and health criteria. A property must pass a HQS inspection before it can receive Section 8 payments. This step is crucial to avoid any delays or complications once you've signed up for the program.
In summary, the FMR of $960 provides a solid benchmark for landlords in ZIP 48897, offering a higher subsidy than the local average rent of $812. With a 13.3% renter share, there is a steady demand for rental properties, and the average home value of $262,234 offers insight into the cost of acquiring a suitable property. However, always check that your property meets the necessary safety and quality standards required by HUD to ensure smooth operation under the Section 8 program.
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.