Section 8 Fair Market Rent (FMR) for ZIP 46703 - 2027

Location: Steuben County, IN | Metro: LaGrange County, IN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$820
2 Bedrooms	$1,070
3 Bedrooms	$1,370
4 Bedrooms	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

18,572

Median Household Income

$74,569

Housing Units

9,469

Renter Percentage

27.8%

Occupancy Rate

76.7%

Renter Occupied

2,018

Housing Authorities Serving ZIP 46703

Housing Authority of the City of Angola (Angola, IN)
Fremont Housing Authority (Fremont, IN)

Angola, located in the heart of Steuben County, Indiana, is a growing community that offers a blend of rural charm and suburban convenience. With a mix of industrial and residential areas, Angola provides a stable environment for both landlords and small-portfolio investors looking to capitalize on the local real estate market.

The Fair Market Rent (FMR) for ZIP 46703 in the metro area for fiscal year 2026 is set at $990.
The current market rent, as measured by Zillow's Rent Index (ZORI), stands at $1,024.
The median home value in Angola is $313,346, reflecting the affordability and desirability of the area.
Renters make up 27.8% of the housing market, indicating a significant demand for rental properties.
The median household income in the area is $74,569, which supports a steady rental market.

The data points indicate a promising market for rental investments in Angola, IN. The close alignment between the Fair Market Rent and the actual market rent suggests a healthy equilibrium in the rental market. With a median home value that is relatively low compared to national averages, Angola presents a good opportunity for property appreciation. The substantial renter share of the population ensures a consistent tenant pool, while the median income level indicates that tenants can afford higher rents without financial strain. For investors, Angola offers a solid foundation for generating rental income with potential for long-term growth in property values.

Data Sources: FMR data from HUD (2027). 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.