Location: Lansing-East Lansing, MI | Metro: Jackson, 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 |
|---|---|---|---|---|
| 3BR | $1,470 | $295,216 | 0.5% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 49264 reveals a unique blend of yield and stability that could be beneficial for landlords and small-portfolio investors. With a Fair Market Rent (FMR) of $1110 for the fiscal year 2024, this figure stands above the market rent of $765, indicating a higher potential for rental income compared to the general market conditions.
However, the median home value of $257,068 suggests that the area is not a typical low-cost, high-turnover market. This relatively high home value means that flipping properties for quick profits may not be as lucrative as in other areas with lower property values.
On the stability axis, ZIP 49264 scores moderately. The percentage of renters at 11.0% is quite low, which implies a significant portion of the population owns their homes. This could indicate less demand for rentals and potentially higher vacancy rates, reducing the stability of cash flow. Unfortunately, the data for days on market (DOM) is not available, which would have provided insight into how quickly rental units can be filled.
The median household income of $92,188 offers some assurance regarding the financial stability of potential tenants. This figure suggests that residents have a reasonable ability to pay rent, which can contribute to a more stable rental income stream.
To summarize, ZIP 49264 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The key figures supporting this conclusion are the FMR of $1110, which exceeds the market rent of $765, and the median household income of $92,188, which indicates a financially stable tenant pool. Despite these positive aspects, the low percentage of renters (11.0%) and the high median home value ($257,068) suggest that the area is not ideal for rapid property turnover or flipping strategies. Instead, it favors long-term investments where consistent rental income is prioritized over quick capital gains.
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.