Section 8 Fair Market Rent (FMR) for ZIP 46230 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 46230, located in Indiana, represents a niche market for real estate investors interested in the Section 8 housing program. This area provides a unique opportunity to understand the dynamics between federal rental assistance and local market conditions.

• The Fair Market Rent (FMR) for ZIP 46230 in fiscal year 2024 is set at $1300. This figure represents the maximum amount that a landlord can charge a tenant receiving Section 8 assistance.
• The market rent for the area is currently not available, indicating a lack of recent data on what tenants might typically pay without government subsidies.
• The median home value in ZIP 46230 is also not reported, suggesting limited data on homeownership trends which could impact the rental market.
• The percentage of the population that rents their homes is not available, making it difficult to gauge the overall demand for rental properties.
• The days on market (DOM) for rentals is not specified, which would normally provide insight into how quickly rental units are being filled or turned over.
• The median household income for the area is not available, which is critical for understanding the economic background of potential tenants.

Despite the absence of several key metrics such as market rent, median home value, renter share, DOM, and median income, the $1300 FMR for ZIP 46230 offers a solid benchmark for landlords participating in the Section 8 program. Investors should focus on securing properties below this rent ceiling to maximize their chances of attracting tenants and achieving stable occupancy rates. The lack of other data points highlights the need for thorough local research to fill in these gaps and make informed decisions about investment opportunities in this ZIP code.

Data Sources: FMR data from HUD (2027).

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.