JeffCroweCRE

Housing market/Michigan/ZIP 48359

ACS 2023 · FY2027 SAFMR

ZIP 48359 Lake Orion, 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
10,424
Households
4,287
Median HH income
$94,618
Renter share
30.1%
Median gross rent
$1,360
Vacancy
4.2%
Pop. change
+8.6%
2BR SAFMR
$1,630
SAFMR / rent
1.199×
2–49 unit stock
787
LIHTC proj / units
1 / 200
HUD assisted MF
—

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 48359 · MI — sent to you.

ZIP 48359 · 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 48359 — Lake Orion, MI HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,360
2BR SAFMR$1,630
90% floor$1,467
110% ceiling$1,793

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

Housing stock

ACS 2023 units-in-structure · ZCTA 48359

  • 1-unit detached3,10169.3%
  • 1-unit attached1984.4%
  • 2–4 units1062.4%
  • 5–49 units68115.2%
  • 50+ units902.0%
  • Mobile2966.6%
TypeUnitsShare
1-unit detached3,10169.3%
1-unit attached1984.4%
2 units (duplex)130.3%
3–4 units932.1%
5–9 units2345.2%
10–19 units3036.8%
20–49 units1443.2%
50+ units902.0%
Mobile2966.6%

2–4 unit share 2.4% · 5–49 unit share 15.2% · combined 2–49 17.6%.

Units by bedrooms

Studio
23
1BR
431
2BR
773
3BR
1,826
4BR
1,247
5+
177

Rent burden

Rent ≥30% of income36.3%
Rent ≥50% of income22.6%
  • ACS median gross rent $1,360 (all bedrooms, occupied rentals).
  • Median contract rent $1,237.
  • Renters paying ≥30% of income 36.3%; ≥50% 22.6%.
  • FY2027 2BR SAFMR $1,630 (1.199× ACS median gross rent).

Population

10,424 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +8.6%.

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

Assisted inventory

  • LIHTC: 1 projects, 200 units.
  • 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 48359 30.1% of occupied households are renters; vacancy is 4.2%; ACS median gross rent is $1,360; population increased +8.6% between the 2018 and 2023 ACS vintages; the housing stock includes 106 units in 2–4-unit structures and 681 units in 5–49-unit structures; 1 LIHTC projects totaling 200 units; FY2027 2BR SAFMR is $1,630 versus ACS median gross rent of $1,360. 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 48359 is a Census / HUD profile for Detroit-Warren-Livonia, MI. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 48359 — Lake Orion, 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 48359?

ZIP 48359 (Detroit-Warren-Livonia, MI HUD Metro FMR Area) has 10,424 residents, 4,287 households, a renter share of 30.1%, median household income of $94,618, and ACS 2023 median gross rent of $1,360. Vacancy is 4.2%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 48359?

ACS counts 13 units in 2-unit buildings, 93 in 3–4 unit buildings, 234 in 5–9, 303 in 10–19, and 144 in 20–49. Combined 2–49 unit stock is 787 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 48359?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,630. See the full schedule and 90–110% payment-standard band on the ZIP 48359 — Lake Orion, MI HUD Section 8 Payment Standards / SAFMR.

Does this Michigan ZIP profile include Georgia listings?

No. ZIP 48359 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.