Location: Grant County, IN | Metro: Grant 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 | $770 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $117,722 | 0.88% | C |
| 3BR | $1,360 | $163,863 | 0.83% | C |
| 4BR | $1,530 | $227,438 | 0.67% | D |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 46933, encompassing Gas City, IN, and parts of Grant County, presents a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $990 for fiscal year 2026, which is notably higher than the market rent reported by the Census Bureau's American Community Survey (ACS), currently at $901.
This difference indicates that voucher tenants will generally cashflow at the FMR rate, providing landlords with a margin of profit above the local market rates. The median home value in the region stands at $157,349, which when compared to the average market rent, yields a rent-to-price ratio of approximately 6.35%. This ratio suggests that the rental market is relatively strong compared to the purchase market, making it an attractive option for investors seeking steady cashflow.
Note that the median days on market (DOM) and the percentage of price cuts are not applicable (N/A) for this analysis. However, given the strong rent-to-price ratio, these metrics are less critical for understanding the broader investment landscape. The primary focus should be on the robust cashflow potential, which is the strongest investor angle in ZIP 46933.
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.