Location: Anderson, IN | Metro: Anderson, IN HUD Metro FMR Area
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 | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $130,962 | 0.99% | C |
| 3BR | $1,690 | $198,153 | 0.85% | C |
| 4BR | $1,700 | $245,334 | 0.69% | D |
U.S. Census Bureau data (2024)
A landlord considering ZIP 46013 (Anderson, IN) for Section 8 investments must navigate several key factors to make an informed decision.
1) Does FMR $1090 (zip FY 2024) clear debt service on a $177,959 property?
If your debt service on a property valued at $177,959 is less than $1090 per month, then the answer is yes. For instance, if you finance the property with a 30-year fixed-rate mortgage at 5%, your monthly payment would be approximately $950. This means the FMR of $1090 would cover the debt service and leave a small buffer for maintenance and other costs. However, if your debt service exceeds $1090, the answer is no, as the FMR will not sufficiently cover your expenses.
2) Is market rent $1,102 (ZORI) above, at, or below FMR?
The ZORI (Zillow Rent Index) for Anderson, IN is $1,102, which is slightly above the FMR of $1090. This indicates that landlords could potentially earn a bit more by renting to market rates rather than participating in Section 8. If you choose to participate in Section 8, you must accept the FMR as the maximum allowable rent. Therefore, the answer to this question is "above," meaning landlords might find it more profitable to rent to market rates.
3) Are 34.8% renters + 39-day DOM enough demand?
The percentage of renters in ZIP 46013 is 34.8%, and the days on market (DOM) for rental properties is 39 days. These figures suggest a moderate level of demand. A 34.8% rental rate is not exceptionally high, but it is sufficient to maintain a steady tenant pool. Additionally, a 39-day DOM is relatively quick, indicating that properties are generally occupied within a month of being listed. If these conditions meet your criteria for acceptable demand, the answer is yes. Otherwise, it depends on your tolerance for lower occupancy rates or longer vacancy periods.
Decision Tree:
Note that these decisions are based on the specific financial metrics provided. Landlords must also consider other factors such as local market trends, property management costs, and the overall desirability of the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.