Location: Elkhart-Goshen, IN | Metro: Elkhart-Goshen, IN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
The ZIP code 46527 in Elkhart-Goshen County presents unique characteristics that distinguish it from other areas within the region. Due to the lack of specific data on resident numbers, rental percentages, median income, and median home values, we must rely on the available information to draw conclusions about its real estate dynamics.
The Fair Market Rent (FMR) for ZIP 46527 has been set at $1100 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors who participate in the Section 8 Housing Choice Voucher program. It indicates the maximum amount of rent that can be charged for a unit under the program, ensuring affordability for low-income families while providing a steady income stream for property owners.
Without specific market rent data, it's challenging to compare the FMR directly to local market conditions. However, the FMR serves as a benchmark for rental rates in subsidized housing, which can influence overall rental pricing trends within the area. Landlords should consider this when setting their own rents, especially if they aim to attract tenants who benefit from Section 8 vouchers.
The data signature for ZIP 46527 reads as "stable." Although specific economic indicators are unavailable, the consistent provision of FMR data suggests that there is a reliable framework for managing rental properties in this area. Stability in rental subsidies often translates into predictable cash flows for landlords and a steady demand for affordable housing units.
To conclude, ZIP 46527 offers an opportunity for landlords and small-portfolio investors to engage in the Section 8 program with a set rate of $1100 per month for Fair Market Rent. The area appears stable based on the availability of this data point, but further investigation into local market conditions would provide a clearer picture for strategic 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.