Location: Noble County, IN | Metro: DeKalb County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
ZIP 46710, located in Avilla, IN, within the Noble County, IN metro area, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) for the Noble County metro area, which is set at $960 for fiscal year 2026, and the actual market rent of $759. This discrepancy allows landlords to secure higher rents through Section 8 vouchers compared to what they might receive from market-rate tenants.
The median home value in ZIP 46710 stands at $278,463. Given the lower market rent, landlords can expect a steady stream of income that exceeds local rental rates, thereby providing a reliable cash flow. This is particularly advantageous in areas where rental demand is stable and where there's a consistent need for affordable housing.
While appreciation plays and diversifiers have their merits, ZIP 46710 does not offer compelling evidence for these strategies. The price-cut share and days on market (DOM) are listed as N/A, indicating a lack of significant data to support an investment focused on property appreciation. Similarly, the 19.4% renter share and median income of $84,408 do not suggest strong potential for diversification or significant income growth beyond the guaranteed cash flow.
In conclusion, ZIP 46710 is best positioned as a cash-flow anchor due to the favorable FMR compared to the local market rent. This strategy ensures landlords and small-portfolio investors can rely on steady, above-market returns without the risks associated with volatile markets or the complexities of diversification.
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.