Location: Rush County, IN | Metro: Rush County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 46146 in fiscal year 2026 is set at $970. This figure represents the payment standard for Section 8 housing vouchers in the area, which is the amount the government will pay towards your tenant's rent. It's important to note that this is not the total rent you can charge; it's the maximum amount the voucher will cover.
While the local median rent is listed as N/A, we can still analyze the market using other available data. The renter share in ZIP 46146 is 56.0%, indicating a strong demand for rental properties. This percentage suggests that over half of the households in the area are renters, making it a viable option for those looking to enter the rental market.
Regarding the acquisition cost of properties in the area, the average price is also listed as N/A. However, even without specific numbers, understanding the FMR and the high renter share can help guide your investment decisions. The FMR gives you a benchmark for what the government will subsidize, while the renter share shows the potential tenant pool.
Before proceeding with a Section 8 rental property in ZIP 46146, verify that your property meets the minimum standards set by the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary, which is a requirement for participation in the program. Meeting these standards will not only comply with the regulations but also provide a quality living environment for your tenants.
In summary, the FMR of $970 is the government's contribution towards rent, reflecting a significant portion of the typical rent in the area. With a 56.0% renter share, there is a substantial market for rental properties, making ZIP 46146 an attractive location for your first Section 8 rental. Ensure your property meets HQS requirements to avoid any compliance issues and to offer a good living space.
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.