Location: Indianapolis-Carmel, 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 | $1,350 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,740 | $256,902 | 0.68% | D |
| 3BR | $2,260 | $310,144 | 0.73% | D |
| 4BR | $2,750 | $397,677 | 0.69% | D |
| 5BR | $3,190 | $465,788 | 0.68% | D |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP 46168 (Plainfield, IN) provides insight into potential investment returns under different rental scenarios. Using the Fair Market Rent (FMR) for a two-bedroom apartment set at $1440 annually for Fiscal Year 2024, and the Zillow Observed Rental Index (ZORI) at $1,686 per month, we can derive the gross yields relative to the median home value of $329,495.
First, annualizing the FMR, we get a yearly rental income of $17,280 ($1440 x 12 months). Dividing this by the median home value gives us an implied gross yield of approximately 5.24%. This calculation is straightforward and assumes the property is rented at the FMR level throughout the year.
Next, using the ZORI figure of $1,686 monthly, the annual rental income would be $20,232 ($1,686 x 12 months). The implied gross yield in this scenario is approximately 6.14%. This higher yield reflects the market's demand for rental properties and suggests that landlords might achieve better returns by renting at market rates.
To determine which scenario is more realistic, consider the local rental market dynamics. With a renter density of 33.4%, Plainfield has a significant portion of its population租房，这意味着市场上对出租物业有一定的需求。结合平均在市场上停留29天的出租物业（DOM），我们可以得出结论，投资者在考虑Section 8投资时，应该倾向于市场租金水平来估算潜在回报。
虽然Section 8计划提供的租金保证可以为投资者提供稳定的现金流，但根据当前的数据，市场租金水平下的毛收益率（6.14%）比FMR水平下的毛收益率（5.24%）更具有吸引力。这表明，尽管存在一定的风险，但通过以市场价格出租房产，投资者可以获得更高的回报。
综上所述，对于ZIP 46168（印第安纳州普莱恩菲尔德）的Section 8房地产分析，投资者应考虑市场租金水平来计算潜在的毛收益率。尽管FMR提供了稳定性和保障，但在当前的租户密度和市场条件下，追求市场租金水平是更为实际的选择。
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.