The home, which features on the cover of the rapper's newly-released album, The Marshall Mathers LP 2, set fire at around 6.20pm on Thursday.
Fire crews attended the scene of the Detroit property, situated near to the 8 Mile, and managed to contain the blaze to the second floor before it spread.
At this stage it is unclear how the fire started, but the property has been left badly damaged.
Eminem's mother Deborah Mathers bought the house in 1987 for $19,900, but it has been bought and resold around 10 times since then.
It was ultimately abandoned, going into foreclosure in 2001, and failed to sell for $500 at a recent auction.
It is now owned by The Michigan Land Bank - a government programme which manages 11,000 of the vacant, derelict properties in the former Motor City.
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