Location: Miami County, IN | Metro: Miami 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 | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $169,877 | 0.73% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 46958 in the Miami County, IN metro area reveals several key points for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Federal Market Rent (FMR) for FY 2026 is set at $990. However, the market rent for this area is currently listed as N/A, indicating a lack of recent data. Without accurate market rent figures, it's challenging to determine if the rent math works effectively for Section 8 properties. Landlords should seek out local real estate agents or rental listing websites for the most up-to-date market rates to ensure they can cover their costs and generate a profit.
Secondly, the acquisition affordability in ZIP 46958 is anchored by a median home value of $153,279. This figure suggests that property acquisition could be relatively affordable compared to other areas. The Days on Market (DOM) and the percentage of homes needing price cuts are both listed as N/A, which means we don't have the latest trends on how quickly homes are selling or if there's a need for significant price reductions. To make an informed decision, landlords should consult local real estate listings to gauge current market conditions.
Lastly, concerning tenant demand, ZIP 46958 has a population of 620, with 8.6% of residents being renters. This indicates a limited pool of potential tenants, making competition for rental units likely. Given the small number of residents and low renter share, landlords must be prepared to cater to a niche market and possibly offer competitive amenities or pricing to attract and retain tenants.
Verdict: While the median home value in ZIP 46958 makes property acquisition potentially affordable, the lack of current market rent data complicates the assessment of whether the rent math works favorably for Section 8 properties. Additionally, the low population and small renter share suggest that tenant demand is modest, requiring landlords to be strategic in attracting and retaining renters. Overall, investment here requires careful consideration of these factors and thorough local market research.
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.