Location: Starke County, IN | Metro: Fulton 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 | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $283,614 | 0.37% | F |
| 3BR | $1,260 | $334,154 | 0.38% | F |
| 4BR | $1,450 | $478,781 | 0.3% | F |
| 5BR | $1,682 | $1,572,285 | 0.11% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 46511, located in Culver, Indiana, hinges on the interplay between rental yields and market stability. On the yield axis, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $980, while the actual market rent in the area is lower at $665. This suggests a moderate potential for rental income, given that properties can be rented out below the FMR but still offer decent returns. The median home value of $329,861 indicates a relatively stable housing market, where property values are unlikely to fluctuate drastically, providing a solid base for investment.
Turning to stability, the area has 22.9% of its population renting, which is a key figure for assessing demand. However, the lack of data on days on market (DOM) makes it challenging to gauge how quickly rentals turn over, a critical factor for cash flow consistency. The average income of $58,293 provides insight into the economic health of the area and the ability of residents to pay rent, though this figure alone does not fully capture the financial stability of potential tenants.
Based on these figures, ZIP 46511 appears to be a steady-cashflow zone rather than a high-yield/low-stability market. The moderate difference between the FMR and market rent, combined with a reasonable median home value, points towards an environment where rental income is reliable and property values are stable. While the percentage of renters is not exceptionally high, it does indicate a consistent demand for rental properties. The income level supports the ability of tenants to maintain their rent payments, further reinforcing the stability aspect.
To summarize, the primary factors supporting the steady-cashflow classification are the $980 FMR versus the $665 market rent, the $329,861 median home value, and the $58,293 average income. These elements collectively suggest a balanced market with reliable returns and stable conditions.
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.