Location: Kosciusko County, IN | Metro: Kosciusko County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
The ZIP code 46502 presents a unique snapshot of the rental market, characterized by the Fair Market Rent (FMR) set at $1,140 for the fiscal year 2026. This figure, established by HUD for the metro area, serves as a benchmark for rental costs, indicating the financial threshold that both landlords and tenants must navigate.
Despite the defined FMR, the current market rent remains unspecified, suggesting a potential gap between government guidelines and actual rental prices. This ambiguity can point to either a lack of comprehensive data or a market that's not fully aligned with federal standards. The absence of a precise market rent can also imply volatility or inconsistency in pricing, which could be due to various factors including landlord practices or tenant preferences.
The undefined percentage of price-cut share and days on market (DOM) further obscure the immediate dynamics of supply and demand. However, the fact that these metrics are not available can hint at a market that might not be actively tracked or analyzed, possibly due to lower transaction volumes or less competitive conditions. If there were high DOMs or a significant price-cut share, it would suggest a surplus of properties relative to demand, but their absence leaves room for interpretation.
A median home value that is also unspecified points to an incomplete picture of the overall housing market in ZIP 46502. While this doesn't directly inform us about the rental market, it can indicate challenges in assessing the broader economic landscape of the area, which includes both rental and homeownership sectors.
The undefined percentage of renters in the ZIP code prevents a clear understanding of the long-term housing pressures. Typically, a higher renter share can signal sustained demand for rentals, which could be due to affordability issues, population growth, or a preference for renting over buying. Conversely, a lower share might indicate a stable homeownership environment, reducing the long-term pressure on rental markets. In the absence of this data, landlords and small-portfolio investors should consider other local economic indicators and trends to gauge future demand.
In summary, ZIP 46502's rental market appears to be in flux, with defined FMRs but unclear market rents and other key metrics. This suggests a need for careful monitoring of local trends and federal guidelines to make informed decisions about rental investments and property management strategies.
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.