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 |
In this context, ZIP 46355 cannot be considered a cash-flow anchor because there is no market rental data to establish a spread between the FMR and actual market rates. Similarly, it cannot be evaluated as an appreciation play, as there is no median home value or Days on Market (DOM) data to suggest potential growth or liquidity in property sales.
The lack of specific data points such as median home value, market rental prices, and median income makes it challenging to assess the area's potential as a diversifier. However, given that the ZIP Code is designated for PO Box use, it is unlikely to attract significant renter share or provide meaningful income diversification opportunities for landlords.
To better understand the investment potential of ZIP 46355, one would need to consider surrounding areas with similar demographics and housing markets. For instance, if the neighboring ZIP Codes have a higher renter share and lower median income, they might offer more suitable opportunities for landlords looking to include Section 8 properties in their portfolios.
Given the absence of residential data, ZIP 46355 should be excluded from a Section 8 portfolio strategy focused on cash flow or appreciation. Instead, landlords and small-portfolio investors should look at other ZIP Codes within the same HUD Metro FMR Area that have more comprehensive residential data to inform their investment decisions.
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.