Location: Gary, IN | Metro: Gary, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
The ZIP Code 46325 is located in Hammond, IN, part of Lake County within the broader Chicago-Naperville-Elgin metropolitan area. As a PO Box ZIP Code, specific demographic data such as population, median income, and median home value for 46325 is not available. However, it is worth noting that ZIP Code 46325 is contained within ZIP Code 46320, where some demographic insights might be relevant.
Moving into the economic landscape, the Fair Market Rent (FMR) for ZIP Code 46325 is set at $1250 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors considering participation in the Section 8 housing program. Despite the lack of detailed market rent data, the FMR provides a benchmark for rental pricing within the bounds of the federal assistance program.
In terms of investment strategy, ZIP Code 46325 appears to favor a hands-on approach. Given the absence of comprehensive data, landlords and investors should engage closely with local market conditions and trends. A value-add buyer could leverage the proximity to major urban centers like Chicago to improve property values and attract tenants who benefit from the Section 8 program. For those looking to operate hands-off, the limited residential addresses in this PO Box ZIP Code suggest a smaller pool of potential tenants, making active management essential for success.
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.