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Madison County/Orestes/46063

46063

ZIPSAFMR
Madison County, IN
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$870$870
1 BR$870$900
2 BR$1,140$960
3 BR$1,490$1,080
4 BR$1,500$1,130
5 BR$1,725Not available
6 BR$1,984Not available
7 BR$2,281Not available
8 BR$2,624Not available

Purchase Price Calculator

Maximum purchase price
$80,739

Cost breakdown

+Likely effective rent$960
HUD FMR$1,140
Market rentUsed$960
Est. payment standard (90%)$1,030
-Principal and interest-$408
Loan amount$64,591
Down payment$16,148
Rate6.50%
Term30 years
-Operating costs-$352
Property taxes-$81
Insurance-$175
Utilities$0
HOA$0
Management-$96
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,722(97.4% ROI)
Projected value
$86,947
Return breakdown
Property appreciation+$6,208
Loan principal paid down+$2,314
Rental cash flow+$7,200
5-year hold
+$26,737(165.6% ROI)
Projected value
$91,349
Return breakdown
Property appreciation+$10,610
Loan principal paid down+$4,127
Rental cash flow+$12,000
10-year hold
+$56,447(349.6% ROI)
Projected value
$103,353
Return breakdown
Property appreciation+$22,614
Loan principal paid down+$9,833
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
0.96
2 BR
1.19
3 BR
1.38
4 BR
1.33
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46063 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46063 (Orestes, IN) is $1,140 a month. That is up 4.6% from $1,090 in FY 2026. Orestes is in the Anderson, IN HUD Metro 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 metro-wide two-bedroom FMR of $1,331. Among 21 ZIP codes in Madison County, 46063 has the 18th-highest two-bedroom rent (county range $1,090–$1,900). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46063 is 5% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46063
BedroomsFY 2027Change90–110% range
Studio$870+7.4%$783–$957
1BR$870+4.8%$783–$957
2BR$1,140+4.6%$1,026–$1,254
3BR$1,490+3.5%$1,341–$1,639
4BR$1,500+4.2%$1,350–$1,650

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46063
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$870$870$1,140$1,490$1,500
FY 2026$810$830$1,090$1,440$1,440
FY 2025$720$790$1,030$1,330$1,370
FY 2024$720$790$1,040$1,340$1,390
FY 2023$600$650$850$1,090$1,140

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46063
46017$1,370+20.2%
46018$1,330+16.7%
46036$1,200+5.3%
46040$1,620+42.1%
46044$1,440+26.3%
46048$1,900+66.7%
46051$1,700+49.1%
46056$1,470+28.9%
46060$1,660+45.6%
46063Current$1,140—
46064$1,570+37.7%
46070$1,210+6.1%

Questions about ZIP 46063 rents

How much will Section 8 pay for a two-bedroom in ZIP 46063?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,331, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,198 to $1,464 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. 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 46063 in?

ZIP 46063 is in the Anderson, IN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,331.

How much did fair market rent change in ZIP 46063 for FY 2027?

The two-bedroom FMR rose 4.6%, from $1,090 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 34.1%.

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