Location: Tipton County, IN | Metro: Tipton County, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 46047, located in Tipton County, Indiana, within the HUD Metro FMR Area, reveals several key points regarding its viability for Section 8 investments.
The rent math does not work favorably due to the absence of specific market rent data. However, with the Fair Market Rent (FMR) set at $1,100 for the fiscal year 2026, landlords must ensure that their rental properties can be rented out at this rate or lower to qualify for Section 8 tenants. Without a comparative market rent figure, it's challenging to assess whether this FMR aligns well with local market conditions.
Acquisition affordability remains unclear given the lack of detailed data on the median home value, days on market (DOM), and the percentage of homes that required price cuts. These metrics are crucial for understanding how easy or difficult it is to purchase properties in this area at a price that would allow for profitable Section 8 rentals. The incomplete data suggests that further research is necessary to make informed decisions about property acquisitions.
Tenant demand is evident with a population of 49 and a significant 56.0% renter share. This indicates that over half of the residents are likely seeking rental accommodation, which could translate into a steady stream of potential Section 8 tenants. The high proportion of renters suggests a strong interest in affordable housing options, making it a promising area for landlords willing to participate in the Section 8 program.
Verdict: ZIP 46047 presents an opportunity for Section 8 investments, primarily driven by the substantial tenant demand. However, the decision to invest should be contingent upon securing properties that can meet the $1,100 FMR threshold and conducting thorough due diligence on acquisition costs and market conditions. The high renter share supports the likelihood of finding tenants, but without precise market rent and property acquisition data, cautious optimism is advised.
Data Sources: FMR data from HUD (2027). 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.