Location: Cass County, IN | Metro: Cass County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 46998 within the Cass County, IN metro area reveals several key points that should inform investment decisions. The HUD Fair Market Rent (FMR) for the metro area is set at $960 for fiscal year 2026. However, the market rent data for ZIP 46998 is currently unavailable, which makes direct comparisons challenging. Despite this gap, we can infer some dynamics based on the available FMR.
Voucher tenants in ZIP 46998 will likely cashflow at the FMR level, but the exact margin depends on the actual market rents once they become available. If the market rents are significantly higher than the FMR, then landlords might see marginal cashflow with standard units, and better returns with premium units. Conversely, if market rents are closer to the FMR, cashflow could be less favorable unless landlords focus on high-demand, premium-quality rentals.
The median home value for ZIP 46998 is also currently unavailable, which means deriving an accurate rent-to-price ratio is not possible with the given data. This ratio would typically help investors understand the relative affordability of renting versus buying in the area, but without specific figures, it's difficult to provide a precise comparison. Nonetheless, the lack of home value data suggests a potentially stable rental market where owning property as a landlord might be more attractive than homeownership.
The number of days on market (DOM) and the percentage of price cuts are not provided, which limits our ability to analyze the current state of the housing market. However, these metrics are crucial for understanding how quickly properties sell and at what price adjustments, which can impact both the rental and purchase markets. For instance, a low DOM and minimal price cuts indicate a strong seller's market, which could support higher rents and property values over time.
The strongest angle for investors in ZIP 46998 appears to be cashflow, assuming the FMR aligns reasonably well with market rents. Stability is another significant factor, given the lack of volatility indicated by the missing home value data, suggesting a consistent environment for rental investments. However, appreciation potential remains uncertain without additional data on home values and market trends.
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.