Location: Clinton County, IN | Metro: Clinton County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
ZIP code 46057, located in Frankfort, Indiana, stands out within Clinton County due to its unique demographic and economic characteristics. With a population of 1,270 residents, the area has a rental rate of 29.2%, indicating a significant portion of the community is composed of renters. The median household income in ZIP 46057 is $53,173, which is relatively modest compared to other regions, while the median home value is notably higher at $235,808. This suggests that homeownership is valued but also comes at a premium.
The voucher economics in this ZIP code are particularly interesting. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,040, whereas the current market rent, according to Census ACS data, is $905. This discrepancy indicates that landlords participating in the Section 8 program can expect to receive slightly above-market rents, which could be beneficial for maintaining property values and covering operational costs.
Given the data signature, ZIP 46057 appears to be in a stable condition. The relatively high median home value alongside a modest median income suggests a balanced housing market where both homeowners and renters coexist. Additionally, the slight increase in rent through the Section 8 program can provide a consistent and reliable source of income for landlords without overburdening tenants. This stability is favorable for small-portfolio investors looking for steady returns in a predictable market environment.
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.