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LaPorte County/Valparaiso/46383

46383

ZIPSAFMR
LaPorte County, IN
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$1,150$970
1 BR$1,210$1,100
2 BR$1,470$1,380
3 BR$1,790$1,840
4 BR$1,950$2,140
5 BR$2,243Not available
6 BR$2,579Not available
7 BR$2,966Not available
8 BR$3,411Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMR$1,470
Market rentUsed$1,380
Est. payment standard (96%)$1,410
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.19
1 BR
1.10
2 BR
1.07
3 BR
0.96
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46383 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46383 (Valparaiso, IN) is $1,470 a month. That is up 8.9% from $1,350 in FY 2026. Valparaiso is in the Michigan City-La Porte, IN MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 16 ZIP codes in LaPorte County, 46383 has the 4th-highest two-bedroom rent (county range $1,070–$1,870). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46383 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46383
BedroomsFY 2027Change90–110% range
Studio$1,150+17.3%$1,035–$1,265
1BR$1,210+9.0%$1,089–$1,331
2BR$1,470+8.9%$1,323–$1,617
3BR$1,790+8.5%$1,611–$1,969
4BR$1,950+8.9%$1,755–$2,145

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46383
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,150$1,210$1,470$1,790$1,950
FY 2026$980$1,110$1,350$1,650$1,790
FY 2025$900$1,030$1,250$1,540$1,660
FY 2024$930$1,100$1,340$1,650$1,790
FY 2023$740$900$1,100$1,350$1,500

Two-bedroom rent in nearby LaPorte County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46383
46340$1,070−27.2%
46345$1,250−15.0%
46346$1,160−21.1%
46348$1,360−7.5%
46350$1,240−15.6%
46360$1,240−15.6%
46365$1,310−10.9%
46371$1,870+27.2%
46382$1,280−12.9%
46383Current$1,470—
46390$1,600+8.8%
46391$1,560+6.1%

Questions about ZIP 46383 rents

How much will Section 8 pay for a two-bedroom in ZIP 46383?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,470, that basic range is $1,323 to $1,617 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 46383 in?

ZIP 46383 is in the Michigan City-La Porte, IN MSA. 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 46383 for FY 2027?

The two-bedroom FMR rose 8.9%, from $1,350 in FY 2026 to $1,470 in FY 2027. Since FY 2023 it has risen 33.6%.

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