Location: Cass County, IN | Metro: Carroll 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 | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $850 | $86,373 | 0.98% | C |
| 2BR | $1,030 | $121,902 | 0.84% | C |
| 3BR | $1,370 | $181,162 | 0.76% | D |
| 4BR | $1,380 | $207,411 | 0.67% | D |
| 5BR | $1,601 | $222,747 | 0.72% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 46947, located in Logansport, IN, within the Cass County County, Cass County, IN metro area, reveals a competitive yet promising rental environment. The HUD Fair Market Rent (FMR) for FY 2024 stands at $860, while the Census American Community Survey (ACS) indicates a market rent of $804. This comparison suggests that voucher tenants will generally cashflow at the FMR, providing a positive financial outlook for landlords.
To further analyze the investment potential, consider the median home value in the area, which is $154,624. Using this figure, we can derive a rent-to-price ratio. With an average monthly rent of $804, the annual rent would be approximately $9,648. Dividing the annual rent by the median home value gives us a rent-to-price ratio of about 6.25%. This ratio indicates that rental income represents a significant portion of the property's value, making it an attractive option for investors seeking steady cash flow.
The dynamics between renting and buying also play a role in the market analysis. The median days on market (DOM) is N/A, suggesting limited data on how long homes typically stay on the market before selling. However, the 0.2% price-cut share indicates that sellers rarely need to lower their asking prices, pointing to a stable housing market. For Section 8 investors, this stability means less risk of price fluctuations affecting the value of their properties.
In conclusion, the strongest angle for investors in ZIP 46947 is the potential for strong cash flow due to the favorable HUD FMR compared to the local market rent. While appreciation and stability are also factors, the ability to consistently generate positive cash flow from voucher tenants makes this area particularly appealing for those focused on rental income.
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.