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 | $1,080 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $106,991 | 1.29% | A |
| 3BR | $1,760 | $175,443 | 1% | B |
| 4BR | $1,810 | $249,971 | 0.72% | D |
U.S. Census Bureau data (2024)
The ZIP code 48912, located within the Lansing-East Lansing, MI MSA, presents a unique set of characteristics when compared to the broader metropolitan area. With a Fair Market Rent (FMR) of $1090 for fiscal year 2024, it sits slightly below the market rent of $1251. This indicates that 48912 could be considered a value pocket within the Lansing-East Lansing MSA, offering rental properties at a lower rate than the average market price.
The median home value in ZIP 48912 is $136,531, which is notably lower than what might be expected in a typical ZIP code within the MSA. This suggests that property owners in 48912 may have an opportunity to purchase homes at a lower cost relative to the rest of the metro area, potentially increasing their investment returns when renting out the properties.
A significant portion of the residents in 48912 are renters, with a renter share of 56.0%. This is higher than the national average and points towards a strong demand for rental properties in this area. The combination of a high renter share and below-average home values can indicate a favorable environment for landlords and small-portfolio investors, especially those interested in Section 8 housing opportunities.
In summary, ZIP 48912 stands out as a value pocket within the Lansing-East Lansing, MI MSA. Its lower FMR and home values, coupled with a higher-than-average renter share, make it an attractive location for real estate investments, particularly for those looking to participate in government-assisted housing programs like Section 8.
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.