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Madison County/INGALLS/46048

46048

ZIPSAFMR
Madison County, IN
Zillow
BRFMR
Eff. Rent
0 BR$1,260▲$1,270
1 BR$1,290▲$1,030
2 BR$1,690▲$1,550
3 BR$2,230▲$1,710
4 BR$2,240▲$2,080
5 BR$2,576▲—
6 BR$2,962▲—
7 BR$3,407▲—
8 BR$3,918▲—

Purchase Price Calculator

Maximum purchase price
$168,413

Cost breakdown

+Likely effective rent$1,550
HUD FMR$1,690
Market rentUsed$1,550
Est. payment standard (95%)$1,600
Market rent is below the inferred standard ($1,600, 95% of FMR).
-Principal and interest-$852
Loan amount$134,730
Down payment$33,683
Rate6.50%
Term30 years
-Operating costs-$498
Property taxes-$168
Insurance-$175
Utilities$0
HOA$0
Management-$155
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,976(74.2% ROI)
Projected value
$181,362
Current value$168,413
Return breakdown
Property appreciation+$12,949
Loan principal paid down+$4,827
Rental cash flow+$7,200
5-year hold
+$42,739(126.9% ROI)
Projected value
$190,544
Current value$168,413
Return breakdown
Property appreciation+$22,131
Loan principal paid down+$8,608
Rental cash flow+$12,000
10-year hold
+$91,681(272.2% ROI)
Projected value
$215,583
Current value$168,413
Return breakdown
Property appreciation+$47,170
Loan principal paid down+$20,511
Rental cash flow+$24,000

Market Alignment

FMR / market rent by bedroom; grey wings show the 90-110% payment-standard spread.

Studio
Studio
0.99ratio
FMR$1,260
Market$1,270
vs market-$10

FMR is near market; voucher and private rents are aligned.

90% standard$1,134 / 0.89 ratio110% standard$1,386 / 1.09 ratio
0.99
1 BR
1 BR
1.25ratio
FMR$1,290
Market$1,030
vs market+$260

FMR is above market; underwrite to market rent.

90% standard$1,161 / 1.13 ratio110% standard$1,419 / 1.38 ratio
1.25
2 BR
2 BR
1.09ratio
FMR$1,690
Market$1,550
vs market+$140

FMR is near market; voucher and private rents are aligned.

90% standard$1,521 / 0.98 ratio110% standard$1,859 / 1.20 ratio
1.09
3 BR
3 BR
1.30ratio
FMR$2,230
Market$1,710
vs market+$520

FMR is above market; underwrite to market rent.

90% standard$2,007 / 1.17 ratio110% standard$2,453 / 1.43 ratio
1.30
4 BR
4 BR
1.08ratio
FMR$2,240
Market$2,080
vs market+$160

FMR is near market; voucher and private rents are aligned.

90% standard$2,016 / 0.97 ratio110% standard$2,464 / 1.18 ratio
1.08
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents for larger unit sizes.

Historical
FY 2022-2026

Data freshness

FMR
FY2026
Market rent
last ~365 days
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 46048 (IN) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

What is FMR?What is SAFMR?Data sourcesIncomplete geosView county page

46048 fair market rent benchmarks

The FY 2026 HUD Small Area Fair Market Rent (SAFMR) page for 46048 shows monthly rent benchmarks by bedroom size for Housing Choice Voucher and Section 8 comparisons. The 2 bedroom fair market rent is $1,690 and the 4 bedroom fair market rent is $2,240.

Use these values to compare bedroom-size rent benchmarks and screen a property's rent assumptions. Local housing authorities set voucher payment standards, which may be above or below published HUD FMR, so confirm the applicable authority and current schedule before underwriting a property. Read the FMR and payment-standard guide for the full verification workflow.

FY 2026 Fair Market Rent by bedroom size for 46048
Bedroom sizeHUD FMR
Studio$1,260
1 bedroom$1,290
2 bedroom$1,690
3 bedroom$2,230
4 bedroom$2,240
Madison County fair market rentINGALLS, IN fair market rent