Location: Grant County, IN | Metro: Grant County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
28.2% of residents in ZIP 46930 are renters, indicating a significant portion of the population relies on rental housing. The $980 Fair Market Rent (FMR) for the metro area in fiscal year 2026 suggests that landlords can charge up to this amount for a two-bedroom apartment under the Section 8 program. However, the current market rent, at $814 according to the Census ACS data, is lower, showing a potential opportunity for landlords to increase their rents closer to the FMR without losing tenants.
$52,679 is the median income in ZIP 46930, which is below the national average and may indicate financial constraints among the local population. This could mean that many residents are likely to qualify for the Section 8 program, given the income limits set by HUD. Despite the lack of specific data on days on market (DOM) and the percentage of homes with price cuts, the lower median income and higher renter share suggest that there may be a competitive market for rental properties, particularly those that offer affordable rates.
The absence of median home value data implies that homeownership might not be the dominant housing type in the area, further supporting the reliance on rental housing. With the FMR at $980 and the market rent at $814, landlords have a clear range within which they can operate effectively while still being attractive to Section 8 participants. The relatively low median income also means that demand for affordable rental units is likely high, making it a viable investment option for small-portfolio investors looking to capitalize on the need for subsidized housing.
In conclusion, ZIP 46930 presents a favorable environment for Section 8 properties, with a substantial renter share and median income levels that align well with the program's eligibility criteria. Landlords can expect steady occupancy rates and a reliable source of income, provided they comply with the program's requirements and keep their rents within the FMR guidelines. Verdict: ZIP 46930 is a good fit for Section 8 investments.
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.