Location: Miami County, IN | Metro: Tipton County, IN HUD Metro FMR Area
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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $161,511 | 0.73% | D |
| 3BR | $1,420 | $248,363 | 0.57% | F |
| 4BR | $1,640 | $309,670 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 46936, located in Greentown, Indiana, sits within the broader context of Miami County, IN's real estate market. With a Fair Market Rent (FMR) set at $1050 for fiscal year 2024, it slightly exceeds the market rent figure of $941, indicating that federally subsidized rental units are priced somewhat higher than the average rental costs in the area. This suggests a potential premium on affordable housing options, which could be due to various factors including location desirability or cost of living.
The median home value in ZIP 46936 stands at $244,160, which is a key metric for understanding the overall property value within the neighborhood. This figure is likely reflective of the typical home values found in Miami County, but without direct comparison to other ZIP codes, it's challenging to definitively categorize 46936 as either a value pocket or a premium sub-market. However, given the relatively modest median home value, it leans towards being a mid-tier neighborhood rather than a premium market.
The renter share in 46936 is 11.8%, which is an important indicator for landlords and small-portfolio investors. A higher-than-average renter share can suggest a greater demand for rental properties, potentially making it an attractive area for those interested in Section 8 housing. The fact that the FMR is above the market rent while the home values are moderate indicates a scenario where there might be a significant number of renters who benefit from federal subsidies, creating a stable and predictable income stream for landlords.
To summarize, ZIP 46936 appears to be a mid-tier neighborhood within Miami County, IN, characterized by a slight premium on FMR over market rents and a notable renter share. These factors combined make it a valuable consideration for investors looking to participate in the Section 8 program, particularly due to the potential for stable tenant income and a favorable balance between property values and rental costs.
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.