Location: Marshall 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 | $830 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $265,692 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 46570 has a population of 1,279 individuals, with 8.4% of them being renters. The median household income stands at $54,185. This ZIP code is not heavily dominated by renters; rather, it leans towards a homeowner-dominated area where the presence of Section 8 vouchers might be less common. Given that the percentage of renters is relatively low, it suggests that there isn't a deep voucher demand in this area.
To connect income levels to market rent, we must consider the Fair Market Rent (FMR), which is set at $990 for the fiscal year 2026 in the metro area. However, without specific data on the average market rent for ZIP 46570, we cannot calculate the exact percentage of local income that goes toward rent. Nonetheless, using the FMR as a benchmark, we can infer that typical rents in this area would consume a significant portion of the median household income. For instance, if we assume the market rent aligns closely with the FMR, then the average rent would take up approximately 18.3% of the median income ($990 / $54,185 * 100).
The FMR of $990 indicates the maximum amount that a Section 8 voucher holder could pay for rent in this metro area. Landlords in ZIP 46570 should expect tenants who use Section 8 vouchers to have limited flexibility beyond this figure. Therefore, setting rental prices above $990 may reduce the likelihood of attracting voucher holders.
In summary, landlords and small-portfolio investors in ZIP 46570 should prepare for a tenant pool that is predominantly non-renters, with a smaller segment of renters who may rely on Section 8 vouchers. These tenants will likely have an income around the median of $54,185 and will be constrained by the voucher limit of $990 for their housing expenses. Consequently, landlords should keep their rental rates competitive with the FMR to attract and retain Section 8 tenants effectively.
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.