Location: Jay County, IN | Metro: Wells 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 | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $185,308 | 0.55% | F |
| 3BR | $1,330 | $238,811 | 0.56% | F |
| 4BR | $1,350 | $272,610 | 0.5% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 47326, which includes Bryant, IN, in the Jay County metro area, reveals a favorable cashflow scenario for property owners. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $960. This figure is significantly higher than the market rent reported by the Census American Community Survey (ACS), which stands at $739. Given this disparity, landlords can expect strong cashflow when renting to voucher tenants at the HUD FMR rate, even without premium units.
To further analyze the investment potential, consider the median home value in ZIP 47326, which is $256,069. Using the HUD FMR of $960, we can calculate a rent-to-price ratio of approximately 0.44%. This ratio indicates that rental income is relatively high compared to the cost of purchasing a home in the area, suggesting that the rent-vs-buy dynamic favors rental investments.
Note that the data does not provide specific figures for the median days on market (DOM) or the percentage of homes that required price cuts during the selling process. However, given the strong cashflow potential, these metrics are less critical for determining the viability of rental investments in this area.
The strongest angle for investors in ZIP 47326 is cashflow. With the HUD FMR well above the market rent, landlords can secure steady income while potentially outpacing inflation and other economic factors that might impact property values or rental demand.
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.