Location: White County, IN | Metro: Pulaski County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 46996, Winamac, Indiana, is set at $960 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, which is the maximum amount that the government will pay towards your tenant's rent. It does not represent the total rent you can charge; rather, it is the benchmark against which the rent ceiling is determined.
In comparison, the average rent in Winamac, as per Census ACS data, is currently $725. This indicates that the FMR is higher than the typical market rate, providing a potential financial buffer for landlords who participate in the Section 8 program. The difference between these two figures means that landlords can potentially charge slightly above the average local rent without exceeding the FMR limit.
With a 28.0% share of renters in the local population, there is a steady demand for rental properties. This percentage suggests that nearly one in four residents in Winamac are looking for places to rent, indicating a consistent need for affordable housing options. The median home value in the area is around $185,625, which gives an idea of the overall property values and the acquisition costs for new rental investments.
Before committing to a Section 8 rental property, it is crucial to verify that the unit meets all the necessary inspection criteria. These inspections ensure that the property is safe, decent, and sanitary, and they set a baseline for the condition of the rental. Ensuring compliance with these standards is essential to avoid delays in securing a tenant and to maintain eligibility in the program.
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.