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Madison County/Markleville/46056

46056

ZIPSAFMR
Madison County, IN
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$1,120$1,120
1 BR$1,120$1,120
2 BR$1,470$1,470
3 BR$1,920$1,920
4 BR$1,940$1,940
5 BR$2,231Not available
6 BR$2,566Not available
7 BR$2,950Not available
8 BR$3,393Not available

Purchase Price Calculator

Maximum purchase price
$156,525

Cost breakdown

+Likely effective rent$1,470
HUD FMRUsed$1,470
Market rentN/A
Est. payment standardN/A
-Principal and interest-$791
Loan amount$125,220
Down payment$31,305
Rate6.50%
Term30 years
-Operating costs-$479
Property taxes-$157
Insurance-$175
Utilities$0
HOA$0
Management-$147
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,722(75.8% ROI)
Projected value
$168,560
Return breakdown
Property appreciation+$12,035
Loan principal paid down+$4,486
Rental cash flow+$7,200
5-year hold
+$40,569(129.6% ROI)
Projected value
$177,094
Return breakdown
Property appreciation+$20,569
Loan principal paid down+$8,000
Rental cash flow+$12,000
10-year hold
+$86,904(277.6% ROI)
Projected value
$200,365
Return breakdown
Property appreciation+$43,840
Loan principal paid down+$19,063
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 46056 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46056 (Markleville, IN) is $1,470 a month. That is up 8.9% from $1,350 in FY 2026. Markleville is in the Anderson, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 21 ZIP codes in Madison County, 46056 has the 7th-highest two-bedroom rent (county range $1,090–$1,900). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46056 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46056
BedroomsFY 2027Change90–110% range
Studio$1,120+10.9%$1,008–$1,232
1BR$1,120+8.7%$1,008–$1,232
2BR$1,470+8.9%$1,323–$1,617
3BR$1,920+7.9%$1,728–$2,112
4BR$1,940+8.4%$1,746–$2,134

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46056
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,120$1,120$1,470$1,920$1,940
FY 2026$1,010$1,030$1,350$1,780$1,790
FY 2025$890$1,040$1,220$1,590$1,920
FY 2024$860$950$1,240$1,600$1,660
FY 2023$660$720$940$1,200$1,320

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46056
46017$1,370−6.8%
46018$1,330−9.5%
46036$1,200−18.4%
46040$1,620+10.2%
46044$1,440−2.0%
46048$1,900+29.3%
46051$1,700+15.6%
46056Current$1,470—
46060$1,660+12.9%
46063$1,140−22.4%
46064$1,570+6.8%
46070$1,210−17.7%

Questions about ZIP 46056 rents

How much will Section 8 pay for a two-bedroom in ZIP 46056?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,470, that basic range is $1,323 to $1,617 a month. 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 ZIP 46056 in?

ZIP 46056 is in the Anderson, IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 46056 for FY 2027?

The two-bedroom FMR rose 8.9%, from $1,350 in FY 2026 to $1,470 in FY 2027. Since FY 2023 it has risen 56.4%.

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

County fair market rentMarkleville, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources