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Decatur County/Waldron/46182

46182

ZIPSAFMR
Decatur County, IN
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,570
1 BR$1,760$1,760
2 BR$2,030$2,030
3 BR$2,630$2,630
4 BR$3,200$3,200
5 BR$3,680Not available
6 BR$4,232Not available
7 BR$4,867Not available
8 BR$5,597Not available

Purchase Price Calculator

Maximum purchase price
$239,741

Cost breakdown

+Likely effective rent$2,030
HUD FMRUsed$2,030
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,212
Loan amount$191,793
Down payment$47,948
Rate6.50%
Term30 years
-Operating costs-$618
Property taxes-$240
Insurance-$175
Utilities$0
HOA$0
Management-$203
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,505(67.8% ROI)
Projected value
$258,174
Return breakdown
Property appreciation+$18,434
Loan principal paid down+$6,871
Rental cash flow+$7,200
5-year hold
+$55,758(116.3% ROI)
Projected value
$271,245
Return breakdown
Property appreciation+$31,504
Loan principal paid down+$12,254
Rental cash flow+$12,000
10-year hold
+$120,346(251.0% ROI)
Projected value
$306,888
Return breakdown
Property appreciation+$67,148
Loan principal paid down+$29,198
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 46182 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46182 (Waldron, IN) is $2,030 a month. That is up 30.1% from $1,560 in FY 2026. Waldron is in the Decatur County, IN non-metropolitan 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 county-wide two-bedroom FMR of $1,112. Among 12 ZIP codes in Decatur County, 46182 has the highest two-bedroom rent (county range $1,010–$2,030). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46182 is 87% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46182
BedroomsFY 2027Change90–110% range
Studio$1,570+31.9%$1,413–$1,727
1BR$1,760+31.3%$1,584–$1,936
2BR$2,030+30.1%$1,827–$2,233
3BR$2,630+30.2%$2,367–$2,893
4BR$3,200+29.6%$2,880–$3,520

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46182
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,760$2,030$2,630$3,200
FY 2026$1,190$1,340$1,560$2,020$2,470
FY 2025$1,010$1,160$1,360$1,760$2,130
FY 2024$850$980$1,160$1,520$1,840
FY 2023$710$820$970$1,280$1,520

Two-bedroom rent in nearby Decatur County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46182
46156$1,010−50.2%
46173$1,040−48.8%
46182Current$2,030—
47006$1,110−45.3%
47225$1,070−47.3%
47240$1,120−44.8%
47244$1,510−25.6%
47246$1,400−31.0%
47263$1,560−23.2%
47265$1,030−49.3%
47272$1,180−41.9%
47283$1,280−36.9%

Questions about ZIP 46182 rents

How much will Section 8 pay for a two-bedroom in ZIP 46182?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,112, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,001 to $1,223 a month; under the ZIP-level Small Area FMR of $2,030 it would be $1,827 to $2,233. 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 46182 in?

ZIP 46182 is in the Decatur County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,112.

How much did fair market rent change in ZIP 46182 for FY 2027?

The two-bedroom FMR rose 30.1%, from $1,560 in FY 2026 to $2,030 in FY 2027. Since FY 2023 it has risen 109.3%.

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