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Boone County/Zionsville/46077

46077

ZIPSAFMR
Boone County, IN
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$1,720$1,430
1 BR$1,940$1,540
2 BR$2,230$1,880
3 BR$2,890$2,080
4 BR$3,520$2,180
5 BR$4,048Not available
6 BR$4,655Not available
7 BR$5,353Not available
8 BR$6,157Not available

Purchase Price Calculator

Maximum purchase price
$217,451

Cost breakdown

+Likely effective rent$1,880
HUD FMR$2,230
Market rentUsed$1,880
Est. payment standard (90%)$2,010
-Principal and interest-$1,100
Loan amount$173,961
Down payment$43,490
Rate6.50%
Term30 years
-Operating costs-$580
Property taxes-$217
Insurance-$175
Utilities$0
HOA$0
Management-$188
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,153(69.3% ROI)
Projected value
$234,171
Return breakdown
Property appreciation+$16,720
Loan principal paid down+$6,233
Rental cash flow+$7,200
5-year hold
+$51,689(118.9% ROI)
Projected value
$246,026
Return breakdown
Property appreciation+$28,575
Loan principal paid down+$11,114
Rental cash flow+$12,000
10-year hold
+$111,388(256.1% ROI)
Projected value
$278,355
Return breakdown
Property appreciation+$60,905
Loan principal paid down+$26,484
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.20
1 BR
1.26
2 BR
1.19
3 BR
1.39
4 BR
1.61
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46077 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46077 (Zionsville, IN) is $2,230 a month. That is up 5.2% from $2,120 in FY 2026. Zionsville is in the Indianapolis-Carmel, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 17 ZIP codes in Boone County, 46077 has the 3rd-highest two-bedroom rent (county range $1,040–$2,300). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46077 is 105% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46077
BedroomsFY 2027Change90–110% range
Studio$1,720+6.8%$1,548–$1,892
1BR$1,940+6.6%$1,746–$2,134
2BR$2,230+5.2%$2,007–$2,453
3BR$2,890+5.1%$2,601–$3,179
4BR$3,520+4.5%$3,168–$3,872

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46077
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,720$1,940$2,230$2,890$3,520
FY 2026$1,610$1,820$2,120$2,750$3,370
FY 2025$1,390$1,600$1,870$2,430$2,960
FY 2024$1,430$1,660$1,960$2,550$3,090
FY 2023$1,130$1,310$1,560$2,050$2,450

Two-bedroom rent in nearby Boone County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46077
46035$1,120−49.8%
46041$1,040−53.4%
46050$1,150−48.4%
46052$1,280−42.6%
46069$1,120−49.8%
46071$1,280−42.6%
46075$2,300+3.1%
46077Current$2,230—
46102$1,380−38.1%
46112$1,840−17.5%
46147$1,280−42.6%
46149$1,510−32.3%

Questions about ZIP 46077 rents

How much will Section 8 pay for a two-bedroom in ZIP 46077?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,230, that basic range is $2,007 to $2,453 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 46077 in?

ZIP 46077 is in the Indianapolis-Carmel, 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 46077 for FY 2027?

The two-bedroom FMR rose 5.2%, from $2,120 in FY 2026 to $2,230 in FY 2027. Since FY 2023 it has risen 42.9%.

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

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