Location: Tipton County, IN | Metro: Indianapolis-Carmel, 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 | $1,130 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $266,670 | 0.55% | F |
| 3BR | $1,870 | $331,783 | 0.56% | F |
| 4BR | $2,240 | $385,474 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP 46031, located in Atlanta, IN within the HUD Metro FMR Area of Tipton County, IN, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area is set at $1250 for fiscal year 2024, which significantly exceeds the market rent of $1,054. This spread ensures that landlords receive a higher rental income than what the market would typically offer, providing a steady and reliable source of cash flow.
The median home value in ZIP 46031 stands at $324,897. While this figure is relatively high, it does not impact the cash-flow anchor status of the area, given that the focus here is on rental income rather than property appreciation. The FMR provides a guaranteed income level that is above the market rate, making it a secure choice for landlords seeking stable returns.
The renter share in the area is 9.5%, indicating a smaller proportion of the population relies on rental housing compared to other areas. However, this does not detract from its utility as a cash-flow anchor. Landlords can still benefit from the higher FMR rates, which compensate for the lower demand for rental properties.
The median income of $76,438 suggests that residents have a moderate financial capacity. Although this figure alone might not make the area a prime candidate for appreciation plays or diversifiers, it supports the notion that the guaranteed higher rental income through Section 8 is beneficial for landlords. This income level also implies that tenants are likely to be financially stable, reducing the risk of default on rental payments.
In conclusion, ZIP 46031's alignment with a Section 8 portfolio strategy as a cash-flow anchor is clear. The substantial spread between the FMR and market rent ensures a reliable income stream, making it a valuable component for landlords looking to secure consistent cash flow within their investment portfolios.
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.