Section 8 Fair Market Rent (FMR) for ZIP 46760 - 2027

Location: Noble County, IN | Metro: Noble County, IN

Investment Score for ZIP 46760

Monthly Rent (2BR)

$1,080

Median Price (2BR)

$185,981

1% Rule

0.58%

Annual Yield

6.97%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$830
2 Bedrooms	$1,080
3 Bedrooms	$1,290
4 Bedrooms	$1,810
5 Bedrooms	$2,100
6 Bedrooms	$2,352
7 Bedrooms	$2,540
8 Bedrooms	$2,667

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,080	$185,981	0.58%	F
3BR	$1,290	$269,442	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,179

Median Household Income

$46,992

Housing Units

593

Renter Percentage

10.7%

Occupancy Rate

81.6%

Renter Occupied

The ZIP code 46760, encompassing Kimmell, Indiana, is a small rural community situated in the heart of Pulaski County. This area offers a unique blend of agricultural heritage and quiet living, making it attractive for those seeking a peaceful environment. As a real-estate analyst focusing on Section 8 housing, it's crucial to understand the financial landscape of this region to provide valuable insights for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metropolitan area for fiscal year 2026 is set at $1,030.
The average market rent for properties in ZIP 46760, according to the Census Bureau's American Community Survey, stands at $837.
The median home value in the area is $241,030, indicating a moderate cost of property ownership.
Renters make up 10.7% of the local housing market, suggesting a smaller demand for rental properties compared to homeownership.
The median household income in the area is $46,992, which can influence the affordability of both rental and owned properties.

In summary, while the Fair Market Rent suggests potential for higher rental incomes, the actual market rent is significantly lower, indicating a need for competitive pricing strategies. The median home value provides a benchmark for investment property costs, while the relatively low renter share and median income suggest that targeting affordable housing options could be beneficial. Landlords and small-portfolio investors should focus on maintaining properties below or near the FMR to attract tenants effectively, given the economic conditions of the area.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.