Section 8 Fair Market Rent (FMR) for ZIP 46555 - 2027

Location: Kosciusko County, IN | Metro: Kosciusko County, IN

Investment Score for ZIP 46555

Monthly Rent (2BR)

$1,140

Median Price (2BR)

$230,368

1% Rule

0.49%

Annual Yield

5.94%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$870
1 Bedroom	$870
2 Bedrooms	$1,140
3 Bedrooms	$1,380
4 Bedrooms	$1,500
5 Bedrooms	$1,740
6 Bedrooms	$1,949
7 Bedrooms	$2,105
8 Bedrooms	$2,210

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$870	$210,865	0.41%	F
2BR	$1,140	$230,368	0.49%	F
3BR	$1,380	$289,669	0.48%	F
4BR	$1,500	$396,314	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,517

Median Household Income

$70,399

Housing Units

1,803

Renter Percentage

17.1%

Occupancy Rate

67.1%

Renter Occupied

207

North Webster, Indiana, located in ZIP code 46555, is a small community within the broader metropolitan area that benefits from stable housing market conditions. This analysis provides key insights into the rental market dynamics, property values, and demographic trends that are crucial for landlords and small-portfolio investors considering investments in this region.

The Fair Market Rent (FMR) for North Webster is set at $1,170 per month for a two-bedroom apartment as of the fiscal year 2026, reflecting the government's benchmark for affordable housing standards in the metro area.
The actual market rent, as reported by the Census American Community Survey (ACS), stands at $1,006 per month for a similar-sized unit, indicating a slightly lower rent environment compared to the FMR but still offering solid returns for landlords.
The median home value in the area is $268,278, which is a moderate figure suggesting a balanced residential market where both homeownership and rental opportunities coexist.
Renters make up 17.1% of the total housing units, a relatively low percentage that implies a strong homeownership culture, though it also means there is room for growth in the rental sector.
The median household income in North Webster is $70,399, providing a good basis for tenants to afford the current market rents without excessive strain on their finances.
Data on the number of days on market (DOM) is not available, which could indicate either a very efficient local real estate market or a lack of detailed tracking mechanisms in place for rental properties.

Synthesizing these points, North Webster offers a stable yet modest rental market. With a government-set FMR above the actual market rent, landlords can expect reasonable returns while maintaining affordability for tenants. The moderate median home value suggests that the area is neither overheated nor undervalued, providing a safe haven for investment. Although the renter share is lower than many urban areas, the steady income levels support a sustainable rental market. Investors should be cautious about the lack of detailed market metrics such as DOM, which might require additional local research to fully understand the rental turnover rates and market efficiency.

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.