Location: Elkhart-Goshen, IN | Metro: Elkhart-Goshen, IN MSA
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 | $1,030 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $261,779 | 0.49% | F |
| 3BR | $1,690 | $316,500 | 0.53% | F |
| 4BR | $1,790 | $440,053 | 0.41% | F |
| 5BR | $2,076 | $610,264 | 0.34% | F |
U.S. Census Bureau data (2024)
Bristol, IN, located within the Elkhart-Goshen, IN MSA, offers a unique opportunity for inclusion in a Section 8 portfolio strategy. Specifically, ZIP 46507 can serve as a cash-flow anchor due to the favorable financial metrics associated with the area.
The Federal Market Rent (FMR) for ZIP 46507 in fiscal year 2024 is set at $1130, which is higher than the market rent of $1094. This creates a positive spread of $36 per unit, ensuring that landlords receive a slightly higher rental income compared to the local market average. Additionally, the median home value in Bristol is $330,209, indicating a stable housing market that supports long-term investment.
The low price-cut share of 0.1% suggests that properties in this area maintain their value well and do not often need to be discounted to sell. The N/A-day Days on Market (DOM) implies that homes in ZIP 46507 sell quickly once they are listed, reducing the time and cost associated with property turnover. These factors contribute to the stability and reliability of cash flow for landlords who invest in Section 8 properties here.
Furthermore, the 13.6% renter share indicates a moderate level of demand for rental properties, while the median income of $82,683 provides assurance that tenants will have the financial means to meet their rent obligations. This makes ZIP 46507 a safe bet for landlords looking to secure steady income streams without the risk of high vacancy rates or delinquency.
In summary, ZIP 46507 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The positive spread between FMR and market rent, combined with the stable median home value and quick sales, ensures reliable and consistent returns on investment. Landlords should prioritize this area for properties that will generate dependable cash flow and minimize financial risks.
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.