Location: South Bend-Mishawaka, IN | Metro: South Bend-Mishawaka, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
The ZIP code 46680 in South Bend-Mishawaka County stands out due to limited available data on its resident demographics, rental rates, median income, and median home values. This scarcity of information can make it challenging to fully assess the economic health and stability of the area.
However, when it comes to Section 8 housing assistance, the data provides a clearer picture. The Fair Market Rent (FMR) for ZIP 46680 in fiscal year 2024 is set at $1020. This figure is crucial for landlords and small-portfolio investors as it dictates the maximum rent that can be charged for a Section 8 voucher holder. Despite the lack of specific market rent data for comparison, the FMR serves as a benchmark for affordable housing standards in the region.
Given the incomplete data signature, it is difficult to definitively classify ZIP 46680 as either stable or transitional. However, the presence of a defined FMR suggests that there is a structured approach to providing housing assistance, which can indicate some level of stability in the local housing market. For investors and landlords, focusing on the Section 8 program's parameters, such as the $1020 FMR, is key to navigating the rental landscape in this ZIP code.
To conclude, while the overall demographic and economic data for ZIP 46680 is lacking, the Section 8 voucher economics provide a concrete framework for understanding affordable housing in the area. Landlords and investors should pay close attention to the FMR and other official guidelines to ensure compliance and optimize their investment strategies.
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.