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Lake County/Hammond/46327

46327

ZIPSAFMR
Lake County, IN
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,100$920
1 BR$1,160$1,230
2 BR$1,410$1,350
3 BR$1,720$1,710
4 BR$1,870$1,770
5 BR$2,151Not available
6 BR$2,473Not available
7 BR$2,844Not available
8 BR$3,271Not available

Purchase Price Calculator

Maximum purchase price
$138,693

Cost breakdown

+Likely effective rent$1,350
HUD FMR$1,410
Market rentUsed$1,350
Est. payment standard (97%)$1,370
-Principal and interest-$701
Loan amount$110,954
Down payment$27,739
Rate6.50%
Term30 years
-Operating costs-$449
Property taxes-$139
Insurance-$175
Utilities$0
HOA$0
Management-$135
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,839(78.7% ROI)
Projected value
$149,357
Return breakdown
Property appreciation+$10,664
Loan principal paid down+$3,975
Rental cash flow+$7,200
5-year hold
+$37,314(134.5% ROI)
Projected value
$156,918
Return breakdown
Property appreciation+$18,225
Loan principal paid down+$7,089
Rental cash flow+$12,000
10-year hold
+$79,737(287.5% ROI)
Projected value
$177,539
Return breakdown
Property appreciation+$38,846
Loan principal paid down+$16,892
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.20
1 BR
0.91
2 BR
1.04
3 BR
1.01
4 BR
1.06
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46327 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46327 (Hammond, IN) is $1,410 a month. That is up 9.3% from $1,290 in FY 2026. Hammond is in the Gary, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 34 ZIP codes in Lake County, 46327 has the 23rd-highest two-bedroom rent (county range $1,140–$1,880). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46327 is 30% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46327
BedroomsFY 2027Change90–110% range
Studio$1,100+17.0%$990–$1,210
1BR$1,160+9.4%$1,044–$1,276
2BR$1,410+9.3%$1,269–$1,551
3BR$1,720+8.9%$1,548–$1,892
4BR$1,870+9.4%$1,683–$2,057

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46327
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,100$1,160$1,410$1,720$1,870
FY 2026$940$1,060$1,290$1,580$1,710
FY 2025$840$960$1,170$1,440$1,550
FY 2024$840$990$1,210$1,490$1,610
FY 2023$650$780$960$1,180$1,310

Two-bedroom rent in nearby Lake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46327
46311$1,480+5.0%
46312$1,140−19.1%
46319$1,490+5.7%
46320$1,300−7.8%
46321$1,880+33.3%
46322$1,550+9.9%
46323$1,540+9.2%
46324$1,450+2.8%
46325$1,420+0.7%
46327Current$1,410—
46341$1,180−16.3%
46342$1,430+1.4%

Questions about ZIP 46327 rents

How much will Section 8 pay for a two-bedroom in ZIP 46327?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,410, that basic range is $1,269 to $1,551 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 46327 in?

ZIP 46327 is in the Gary, 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 46327 for FY 2027?

The two-bedroom FMR rose 9.3%, from $1,290 in FY 2026 to $1,410 in FY 2027. Since FY 2023 it has risen 46.9%.

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