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 | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $171,869 | 0.59% | F |
| 3BR | $1,210 | $231,949 | 0.52% | F |
| 4BR | $1,700 | $284,488 | 0.6% | F |
| 5BR | $1,972 | $363,326 | 0.54% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $960 for the metro area in fiscal year 2026, landlords in ZIP 46755, Kendallville, IN, have a clear benchmark for rental pricing. The Census ACS data shows a market rent of $780, indicating that there is potential for increasing rents to align more closely with the FMR without alienating tenants. The median home value stands at $220,498, which provides a solid foundation for property investments in the area. Given that 30.1% of the population are renters, there is a significant demand for rental properties, making it a viable market for landlords. The median income of $66,717 suggests that residents can afford higher rents, especially if they are below the FMR. Although the average days on market (DOM) is not available, the low price-cut share of 0.2% indicates that homes are generally selling at their listed prices, suggesting strong seller's market conditions. This stability in the housing market, combined with the relatively high FMR compared to the market rent, makes ZIP 46755 an attractive location for Section 8 investors. Landlords can expect a steady stream of qualified tenants who can afford the rent, backed by government subsidies. In conclusion, the data points to a favorable environment for Section 8 participation, with strong demand and financial viability.
Section 8 Verdict: Favorable
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.