JeffCroweCRE

Housing market/Michigan/ZIP 48331

ACS 2023 · FY2027 SAFMR

ZIP 48331 Farmington, Michigan

Detroit-Warren-Livonia, MI HUD Metro FMR Area · Michigan. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
22,033
Households
8,946
Median HH income
$121,101
Renter share
23.6%
Median gross rent
$1,743
Vacancy
3.8%
Pop. change
+1.8%
2BR SAFMR
$2,180
SAFMR / rent
1.251×
2–49 unit stock
1,672
LIHTC proj / units
—
HUD assisted MF
—

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 48331 · MI — sent to you.

ZIP 48331 · MI

By checking this box you agree that you may be referred to another real estate broker or related service and acknowledge that CENTURY 21 The Avenues licensees and/or affiliates may be paid a valuable consideration for facilitating such referral.

ACS rent vs 2BR SAFMR

ZIP 48331 — Farmington, MI HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,743
2BR SAFMR$2,180
90% floor$1,962
110% ceiling$2,398

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 48331

  • 1-unit detached6,22066.9%
  • 1-unit attached1,07011.5%
  • 2–4 units5255.6%
  • 5–49 units1,14712.3%
  • 50+ units2632.8%
  • Mobile720.8%
TypeUnitsShare
1-unit detached6,22066.9%
1-unit attached1,07011.5%
2 units (duplex)2072.2%
3–4 units3183.4%
5–9 units4004.3%
10–19 units6126.6%
20–49 units1351.5%
50+ units2632.8%
Mobile720.8%

2–4 unit share 5.6% · 5–49 unit share 12.3% · combined 2–49 18.0%.

Units by bedrooms

Studio
12
1BR
728
2BR
2,322
3BR
2,173
4BR
3,575
5+
487

Rent burden

Rent ≥30% of income48.7%
Rent ≥50% of income31.2%
  • ACS median gross rent $1,743 (all bedrooms, occupied rentals).
  • Median contract rent $1,675.
  • Renters paying ≥30% of income 48.7%; ≥50% 31.2%.
  • FY2027 2BR SAFMR $2,180 (1.251× ACS median gross rent).

Population

22,033 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +1.8%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: not published for this ZIP.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 236 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 48331 23.6% of occupied households are renters; vacancy is 3.8%; ACS median gross rent is $1,743; population increased +1.8% between the 2018 and 2023 ACS vintages; the housing stock includes 525 units in 2–4-unit structures and 1,147 units in 5–49-unit structures; FY2027 2BR SAFMR is $2,180 versus ACS median gross rent of $1,743. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Michigan research

ZIP 48331 is a Census / HUD profile for Detroit-Warren-Livonia, MI. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 48331 — Farmington, MI HUD Section 8 Payment Standards / SAFMR·Michigan ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
48001Detroit-Warren-Livonia, MI HUD Metro FMR Area16.4%$921$1,19048002Detroit-Warren-Livonia, MI HUD Metro FMR Area2.7%$783$1,30048003Detroit-Warren-Livonia, MI HUD Metro FMR Area7.7%$925$1,14048004Detroit-Warren-Livonia, MI HUD Metro FMR Area——$1,27048005Detroit-Warren-Livonia, MI HUD Metro FMR Area7.7%$1,141$1,32048006Detroit-Warren-Livonia, MI HUD Metro FMR Area6.4%$1,077$1,37048009Detroit-Warren-Livonia, MI HUD Metro FMR Area23.8%$1,891$2,19048012Detroit-Warren-Livonia, MI HUD Metro FMR Area——$1,63048014Detroit-Warren-Livonia, MI HUD Metro FMR Area13.8%$827$1,02048015Detroit-Warren-Livonia, MI HUD Metro FMR Area42.6%$627$1,06048017Detroit-Warren-Livonia, MI HUD Metro FMR Area26.5%$1,255$1,51048021Detroit-Warren-Livonia, MI HUD Metro FMR Area31.1%$1,335$1,630

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Michigan research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 48331?

ZIP 48331 (Detroit-Warren-Livonia, MI HUD Metro FMR Area) has 22,033 residents, 8,946 households, a renter share of 23.6%, median household income of $121,101, and ACS 2023 median gross rent of $1,743. Vacancy is 3.8%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 48331?

ACS counts 207 units in 2-unit buildings, 318 in 3–4 unit buildings, 400 in 5–9, 612 in 10–19, and 135 in 20–49. Combined 2–49 unit stock is 1,672 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 48331?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,180. See the full schedule and 90–110% payment-standard band on the ZIP 48331 — Farmington, MI HUD Section 8 Payment Standards / SAFMR.

Does this Michigan ZIP profile include Georgia listings?

No. ZIP 48331 is Census / HUD research for Detroit-Warren-Livonia, MI HUD Metro FMR Area. Jeff Crowe CRE does not list Michigan property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.