FMR is near market; voucher and private rents are aligned.
1.09
1 BR
1 BR- 46550
1.18ratio
FMR$1,000
Market$850
vs market+$150
FMR is above market; underwrite to market rent.
1.18
2 BR
2 BR- 46550
1.33ratio
FMR$1,170
Market$880
vs market+$290
FMR is above market; underwrite to market rent.
1.33
3 BR
3 BR- 46550
1.56ratio
FMR$1,420
Market$910
vs market+$510
FMR is above market; underwrite to market rent.
1.56
4 BR
4 BR- 46550
1.57ratio
FMR$1,540
Market$980
vs market+$560
FMR is above market; underwrite to market rent.
1.57
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
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Mortgage rate
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Nappanee, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Nappanee, IN is $1,170 a month. That is up 8.3% from $1,080 in FY 2026. Nappanee is in the Marshall County, IN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,088. The median county two-bedroom FMR in Indiana is $1,086, so Nappanee is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Nappanee, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$870
$880
+1.1%
$792–$968
1BR
$890
$1,000
+12.4%
$900–$1,100
2BR
$1,080
$1,170
+8.3%
$1,053–$1,287
3BR
$1,400
$1,420
+1.4%
$1,278–$1,562
4BR
$1,450
$1,540
+6.2%
$1,386–$1,694
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Nappanee, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$880
$1,000
$1,170
$1,420
$1,540
FY 2026
$870
$890
$1,080
$1,400
$1,450
FY 2025
$810
$830
$1,010
$1,310
$1,360
FY 2024
$840
$870
$1,090
$1,400
$1,450
FY 2023
$720
$750
$960
$1,230
$1,290
Questions about Nappanee, IN rents
How much will Section 8 pay for a two-bedroom in Nappanee, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,088, which applies unless the housing authority uses Small Area FMRs, that basic range is $979 to $1,197 a month; under the ZIP-level Small Area FMR of $1,170 it would be $1,053 to $1,287. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Nappanee, IN in?
Nappanee, IN is in the Marshall County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,088.
How much did fair market rent change in Nappanee, IN for FY 2027?
The two-bedroom FMR rose 8.3%, from $1,080 in FY 2026 to $1,170 in FY 2027. Since FY 2023 it has risen 21.9%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set