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Hendricks County/Coatesville/46121

46121

ZIPSAFMR
Hendricks County, IN
Zillow

ZIP Investment Score

104Above average

095130300
BRFMR
Eff. Rent
0 BR$1,120$1,120
1 BR$1,280$1,280
2 BR$1,480$1,480
3 BR$1,990$1,990
4 BR$2,390$2,390
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$158,011

Cost breakdown

+Likely effective rent$1,480
HUD FMRUsed$1,480
Market rentN/A
Est. payment standardN/A
-Principal and interest-$799
Loan amount$126,409
Down payment$31,602
Rate6.50%
Term30 years
-Operating costs-$481
Property taxes-$158
Insurance-$175
Utilities$0
HOA$0
Management-$148
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,878(75.6% ROI)
Projected value
$170,160
Return breakdown
Property appreciation+$12,150
Loan principal paid down+$4,529
Rental cash flow+$7,200
5-year hold
+$40,840(129.2% ROI)
Projected value
$178,775
Return breakdown
Property appreciation+$20,764
Loan principal paid down+$8,076
Rental cash flow+$12,000
10-year hold
+$87,501(276.9% ROI)
Projected value
$202,267
Return breakdown
Property appreciation+$44,256
Loan principal paid down+$19,244
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
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Tax rate
--
Mortgage rate
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ZIP 46121 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46121 (Coatesville, IN) is $1,480 a month. That is up 4.2% from $1,420 in FY 2026. Coatesville 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 22 ZIP codes in Hendricks County, 46121 has the 13th-highest two-bedroom rent (county range $1,080–$2,300). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46121 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46121
BedroomsFY 2027Change90–110% range
Studio$1,120+6.7%$1,008–$1,232
1BR$1,280+7.6%$1,152–$1,408
2BR$1,480+4.2%$1,332–$1,628
3BR$1,990+5.9%$1,791–$2,189
4BR$2,390+6.2%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46121
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,120$1,280$1,480$1,990$2,390
FY 2026$1,050$1,190$1,420$1,880$2,250
FY 2025$960$1,090$1,340$1,770$2,100
FY 2024$1,020$1,110$1,390$1,840$2,160
FY 2023$740$810$1,010$1,370$1,590

Two-bedroom rent in nearby Hendricks County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46121
46077$2,230+50.7%
46103$1,340−9.5%
46112$1,840+24.3%
46113$1,860+25.7%
46118$1,220−17.6%
46121Current$1,480—
46122$1,500+1.4%
46123$1,910+29.1%
46147$1,280−13.5%
46149$1,510+2.0%
46157$1,080−27.0%
46158$1,390−6.1%

Questions about ZIP 46121 rents

How much will Section 8 pay for a two-bedroom in ZIP 46121?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,480, that basic range is $1,332 to $1,628 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 46121 in?

ZIP 46121 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 46121 for FY 2027?

The two-bedroom FMR rose 4.2%, from $1,420 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 46.5%.

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