Section 8 Fair Market Rent (FMR) for ZIP 46917 - 2027

Location: Cass County, IN | Metro: Carroll County, IN HUD Metro FMR Area

Investment Score for ZIP 46917

Monthly Rent (2BR)

$1,040

Median Price (2BR)

$172,799

1% Rule

0.6%

Annual Yield

7.22%

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	$790
1 Bedroom	$820
2 Bedrooms	$1,040
3 Bedrooms	$1,290
4 Bedrooms	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,040	$172,799	0.6%	D
3BR	$1,290	$223,184	0.58%	F
4BR	$1,410	$255,227	0.55%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,924

Median Household Income

$61,643

Housing Units

834

Renter Percentage

13.0%

Occupancy Rate

92.6%

Renter Occupied

100

The ZIP code 46917, encompassing Camden, IN, offers a stable real estate market with modest rental and housing values. As a landlord or small-portfolio investor, understanding the nuances of this market can provide valuable insights into potential investment opportunities.

Fair Market Rent (FMR): The Fair Market Rent for ZIP 46917 in fiscal year 2024 is set at $860, indicating a moderate level of demand for rental properties.
Rental Market: While specific market rent figures are currently unavailable, the FMR serves as a reliable benchmark for rental pricing.
Median Home Value: The median home value stands at $203,056, which is relatively low compared to many other regions, suggesting that property acquisition costs could be manageable.
Renter Share: With 13.0% of residents being renters, the market has a smaller but steady segment of tenants, providing a consistent yet limited pool of potential renters.
Days on Market (DOM): Information regarding the average days on market for properties in ZIP 46917 is not available, which may indicate either a lack of recent sales activity or a well-balanced market where homes sell quickly.
Median Income: The median income in the area is $61,643, which suggests that most residents have the financial capacity to afford housing costs, including rent.

Synthesizing these points, investors in ZIP 46917 can expect a modest but stable rental market. The fair market rent at $860 provides a solid guideline for setting rental prices. Although the renter share is relatively low at 13.0%, the median income of $61,643 indicates that residents can generally support their housing expenses. The median home value of $203,056 presents an opportunity for affordable property acquisitions. However, the absence of specific market rent data and days on market metrics means that additional research is necessary to fully gauge the market's performance and liquidity. Overall, the area appears suitable for conservative investors looking for a steady, if not high-growth, market.

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.