Location: Lansing-East Lansing, MI | Metro: Lansing-East Lansing, MI MSA
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 48917 in Lansing, Michigan, for fiscal year 2024 is set at $1100. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a federal assistance program for low-income tenants. It is important to note that this is not the actual rent you will receive; it is the payment standard used by the Housing Choice Voucher program.
In comparison, the average rent in the area is higher at $1,378 according to the Zillow Observed Rent Index (ZORI). This means that while the FMR is $1100, market rents tend to be about $278 more per month. As a landlord, you should be aware that participating in Section 8 might mean accepting a lower rent than what you could get on the open market.
The demand for rentals in ZIP 48917 is strong, with 40.0% of residents being renters. This high percentage indicates a significant portion of the population looking for housing, many of whom may qualify for Section 8 assistance. With such a substantial share of renters, there is likely to be a steady stream of potential tenants interested in your property.
If you are considering purchasing a rental property in this ZIP code, the median home value is approximately $260,239. This figure reflects the typical price you would pay to acquire a home suitable for a Section 8 rental. Given the strong rental market and the 40.0% share of renters, this investment could be worthwhile despite the lower rent payments compared to market rates.
Before deciding to participate in the Section 8 program, verify that your property meets all the necessary requirements for eligibility. This includes ensuring that the unit is up to code and passes a thorough inspection to meet the Housing Quality Standards (HQS) set by the program. Compliance with these standards is mandatory for acceptance into the program.
In summary, the FMR of $1100 sets the upper limit for rent under Section 8, while the local market rent is $1,378. The high renter share suggests a robust demand for rental properties, and the median home value of $260,239 gives an idea of the investment required. Make sure your property meets the HQS to ensure acceptance into the program.
Data Sources: FMR data from HUD (2027). 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.