Section 8 Fair Market Rent (FMR) for ZIP 46015 - 2027

FY 2027 Fair Market Rent Rates

1140 FMR (Fair Market Rent) for ZIP 46015 in fiscal year 2024 indicates that the average rent for a two-bedroom apartment in this area will be $1140. This figure is crucial for landlords and small-portfolio investors who aim to align their rental pricing with government standards.

255 homes are currently listed for sale in ZIP 46015 on Zillow, showcasing a diverse range of property types and sizes. The presence of multiple listings suggests active market activity, which can be beneficial for both buyers and sellers looking to transact.

The Fair Market Rent is a significant benchmark for landlords participating in the Section 8 program. It ensures that rents are set at a reasonable level, reflecting the local housing market conditions accurately.

Given the absence of specific data points such as median home value, median income, days on market (DOM), and price-cut share, it's important to focus on the available information. The $1140 FMR provides a clear guideline for setting rents that comply with federal assistance programs.

A one-bedroom apartment in ZIP 46015 would have a lower FMR, but the exact amount is not provided. However, the $1140 FMR for a two-bedroom unit serves as a reliable indicator for rental pricing adjustments.

The lack of detailed market-specific data makes it challenging to provide a comprehensive analysis, but the FMR remains a solid reference point for ensuring that rental prices are competitive and fair.

Section 8 Verdict: ZIP 46015 is suitable for landlords and investors willing to adhere to the $1140 FMR for two-bedroom units, aligning with the Section 8 guidelines.

Data Sources: FMR data from HUD (2027).

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.