Location: Noble County, IN | Metro: DeKalb 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 | $810 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $207,765 | 0.5% | F |
| 3BR | $1,270 | $341,578 | 0.37% | F |
| 4BR | $1,500 | $376,140 | 0.4% | F |
U.S. Census Bureau data (2024)
ZIP 46730, located in Corunna, IN, within the Noble County, IN metro area, serves as an appreciation play within a Section 8 portfolio strategy. Despite the lack of specific data on price-cut share and days on market (DOM), the characteristics of this area suggest strong potential for property value growth.
The median home value in ZIP 46730 stands at $317,648. This figure, combined with the absence of a defined market rate and the fact that the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,030, indicates that the area is not a cash-flow anchor. The high median home value suggests that properties here are likely to appreciate in value over time, which is beneficial for long-term investment strategies focused on capital gains rather than immediate rental income.
Moreover, the median income in ZIP 46730 is $116,181, which is significantly higher than the national average. This robust economic base supports the argument for appreciation potential. Higher incomes typically correlate with increased demand for housing, which can drive up property values.
While the area has a relatively low renter share at 2.4%, this does not detract from its appreciation potential. Instead, it points towards a predominantly owner-occupied market, which is less volatile and more stable over time compared to areas with a high proportion of renters.
In conclusion, ZIP 46730 is best suited as an appreciation play within a Section 8 portfolio strategy. Its high median home value and above-average median income position it well for long-term capital appreciation, making it a valuable addition to any investment portfolio aimed at building wealth through property value increases.
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.