Section 8 Fair Market Rent (FMR) for ZIP 46105 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The town of Bainbridge, located in the heart of Indiana's 46105 ZIP code, offers a stable environment for real estate investments, particularly in rental properties. The area is characterized by a blend of suburban living and rural charm, attracting a mix of residents who appreciate both lifestyles.

• Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 46105 for fiscal year 2024 is set at $1050. This figure represents the maximum amount HUD will pay for a rental unit in the area and is a reliable indicator of the local rental market's health.
• The Census ACS reports that the average market rent for a one-bedroom apartment in the same area is $961. This suggests that while rents are not excessively high, they remain competitive and reflective of the town's character and economic conditions.
• The median home value in ZIP 46105 stands at $293,705. This value indicates the typical cost of homeownership, which can influence the local rental market dynamics, as potential buyers might opt to rent due to higher purchase prices.
• Renters make up 15.7% of the housing market in Bainbridge. This relatively low percentage of renters compared to homeowners implies a strong demand for owner-occupied homes, but also highlights a niche opportunity for rental property investments.
• The median income for residents is $87,736. This above-average income level supports a robust rental market, where tenants have the financial stability to meet rent payments consistently.
• The Days on Market (DOM) for rentals is not available. This lack of data could indicate a healthy turnover rate or simply a limited sample size, but it does suggest that units are likely to be occupied quickly once listed.

In summary, ZIP 46105 presents a balanced market for rental investments. With fair market rents slightly above average and median incomes supporting tenant affordability, landlords and small-portfolio investors can expect steady returns. However, the low renter share points towards a smaller target audience, necessitating careful property selection and management practices to ensure occupancy rates. The strong median home values also indicate a solid overall economy in the area, which bodes well for long-term investment stability.

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.