Location: Noble County, IN | Metro: Noble County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The classification of ZIP code 46796 hinges significantly on the available data points, which unfortunately are incomplete. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. However, specific market rents and home values for ZIP 46796 are not provided, making it challenging to determine if this is a high-yield market. Typically, a high-yield market would see rental prices that are notably above the FMR, coupled with lower home values, indicating potential for quick flips or short-term investments.
In terms of stability, the data presents another limitation. Only one percentage is given, which is 0.0% for renters. This suggests that there are no current renters in the area, which could imply either a very stable owner-occupied market or a market where properties are vacant or underutilized. Without daily days on market (DOM) and median income figures, we cannot fully assess the stability of the rental market or the financial health of potential tenants.
To make a definitive call, we need additional metrics such as the average market rent, median home value, and median income. These would help us understand whether the area is prone to rapid appreciation, indicating a potentially high-yield but low-stability environment suitable for flipping properties, or if it offers steady cash flow through long-term rentals, suggesting a more stable investment zone. The absence of these key figures means we cannot categorize ZIP 46796 definitively on the yield-stability spectrum.
Given the current data, the lack of renters indicates a possible opportunity for long-term investment strategies focused on owner-occupancy or converting non-rental properties into rental units. However, the investment decision should be made cautiously until more comprehensive data is available.
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.