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Lake County/Schneider/46376

46376

ZIPSAFMR
Lake County, IN
Zillow

ZIP Investment Score

112Above average

095130300
BRFMR
Eff. Rent
0 BR$1,050$1,050
1 BR$1,100$1,100
2 BR$1,340$1,340
3 BR$1,630$1,630
4 BR$1,780$1,780
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$137,207

Cost breakdown

+Likely effective rent$1,340
HUD FMRUsed$1,340
Market rentN/A
Est. payment standardN/A
-Principal and interest-$694
Loan amount$109,766
Down payment$27,441
Rate6.50%
Term30 years
-Operating costs-$446
Property taxes-$137
Insurance-$175
Utilities$0
HOA$0
Management-$134
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,683(79.0% ROI)
Projected value
$147,757
Return breakdown
Property appreciation+$10,550
Loan principal paid down+$3,933
Rental cash flow+$7,200
5-year hold
+$37,043(135.0% ROI)
Projected value
$155,237
Return breakdown
Property appreciation+$18,030
Loan principal paid down+$7,013
Rental cash flow+$12,000
10-year hold
+$79,140(288.4% ROI)
Projected value
$175,637
Return breakdown
Property appreciation+$38,430
Loan principal paid down+$16,711
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 46376 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46376 (Schneider, IN) is $1,340 a month. That is up 9.8% from $1,220 in FY 2026. Schneider 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, 46376 has the 24th-highest two-bedroom rent (county range $1,140–$1,880). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46376 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46376
BedroomsFY 2027Change90–110% range
Studio$1,050+18.0%$945–$1,155
1BR$1,100+10.0%$990–$1,210
2BR$1,340+9.8%$1,206–$1,474
3BR$1,630+9.4%$1,467–$1,793
4BR$1,780+9.9%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46376
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,050$1,100$1,340$1,630$1,780
FY 2026$890$1,000$1,220$1,490$1,620
FY 2025$790$910$1,100$1,360$1,460
FY 2024$810$960$1,170$1,440$1,560
FY 2023$740$890$1,100$1,360$1,500

Two-bedroom rent in nearby Lake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46376
46355$1,420+6.0%
46356$1,540+14.9%
46368$1,480+10.4%
46373$1,490+11.2%
46375$1,610+20.1%
46376Current$1,340—
46377$1,540+14.9%
46394$1,230−8.2%
46401$1,420+6.0%
46402$1,260−6.0%
46403$1,220−9.0%
46404$1,300−3.0%

Questions about ZIP 46376 rents

How much will Section 8 pay for a two-bedroom in ZIP 46376?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,340, that basic range is $1,206 to $1,474 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 46376 in?

ZIP 46376 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 46376 for FY 2027?

The two-bedroom FMR rose 9.8%, from $1,220 in FY 2026 to $1,340 in FY 2027. Since FY 2023 it has risen 21.8%.

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