Location: Starke County, IN | Metro: Pulaski County, IN
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 | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $164,142 | 0.66% | D |
| 3BR | $1,330 | $236,086 | 0.56% | F |
| 4BR | $1,680 | $259,299 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 46366, located in North Judson, Indiana, sits within the broader Starke County metro area. To analyze its position relative to other ZIP codes in the county, we can compare several key metrics: Fair Market Rent (FMR), market rent, home values, and the percentage of renters.
Fair Market Rent (FMR): The FMR for ZIP 46366 is set at $990 for fiscal year 2026. This figure is higher than the average market rent of $819, indicating that the government's estimate of what is considered fair rent exceeds what the local market currently charges. This discrepancy suggests that landlords in this ZIP code could potentially increase their rents closer to the FMR without significantly impacting occupancy rates.
Market Rent: At $819, the market rent is lower than the FMR but aligns closely with what might be expected in a smaller, less urbanized county like Starke. This indicates that rental properties in ZIP 46366 are priced competitively within the county context.
Home Values: The median home value in ZIP 46366 is $212,706. While this figure is typical for the region, it's important to note that it's still relatively affordable compared to larger metropolitan areas. For landlords and small-portfolio investors, this means there's potential for investment without the burden of extremely high property costs.
Renter Share: With a 17.4% renter share, ZIP 46366 has a slightly above-average proportion of renters compared to the typical ZIP code in Starke County. This higher-than-average renter share, combined with below-metro home values, points towards an area where Section 8 vouchers are likely to be more prevalent among tenants. This makes ZIP 46366 a particularly attractive location for landlords who wish to participate in the Section 8 program, as it suggests a concentration of eligible tenants.
In summary, ZIP 46366 can be positioned as a mid-tier neighborhood within the Starke County metro. It offers a balance between reasonable property values and a higher-than-average concentration of renters, which can be advantageous for landlords participating in the Section 8 housing assistance program. The fact that market rents are below the FMR also provides room for potential rent increases while maintaining occupancy levels.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.