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LaPorte County/Westville/46391

46391

ZIPSAFMR
LaPorte County, IN
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$1,210$1,210
1 BR$1,290$1,290
2 BR$1,560$1,560
3 BR$1,900$1,900
4 BR$2,170$2,170
5 BR$2,496Not available
6 BR$2,870Not available
7 BR$3,300Not available
8 BR$3,795Not available

Purchase Price Calculator

Maximum purchase price
$169,899

Cost breakdown

+Likely effective rent$1,560
HUD FMRUsed$1,560
Market rentN/A
Est. payment standardN/A
-Principal and interest-$859
Loan amount$135,919
Down payment$33,980
Rate6.50%
Term30 years
-Operating costs-$501
Property taxes-$170
Insurance-$175
Utilities$0
HOA$0
Management-$156
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,133(74.0% ROI)
Projected value
$182,962
Return breakdown
Property appreciation+$13,064
Loan principal paid down+$4,870
Rental cash flow+$7,200
5-year hold
+$43,010(126.6% ROI)
Projected value
$192,225
Return breakdown
Property appreciation+$22,326
Loan principal paid down+$8,684
Rental cash flow+$12,000
10-year hold
+$92,278(271.6% ROI)
Projected value
$217,485
Return breakdown
Property appreciation+$47,586
Loan principal paid down+$20,692
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 46391 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46391 (Westville, IN) is $1,560 a month. That is up 9.9% from $1,420 in FY 2026. Westville 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, 46391 has the 3rd-highest two-bedroom rent (county range $1,070–$1,870). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46391 is 44% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46391
BedroomsFY 2027Change90–110% range
Studio$1,210+14.2%$1,089–$1,331
1BR$1,290+10.3%$1,161–$1,419
2BR$1,560+9.9%$1,404–$1,716
3BR$1,900+6.7%$1,710–$2,090
4BR$2,170+7.4%$1,953–$2,387

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46391
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,210$1,290$1,560$1,900$2,170
FY 2026$1,060$1,170$1,420$1,780$2,020
FY 2025$850$1,020$1,230$1,550$1,760
FY 2024$790$940$1,160$1,470$1,640
FY 2023$680$810$1,010$1,290$1,430

Two-bedroom rent in nearby LaPorte County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46391
46340$1,070−31.4%
46345$1,250−19.9%
46346$1,160−25.6%
46348$1,360−12.8%
46350$1,240−20.5%
46360$1,240−20.5%
46365$1,310−16.0%
46371$1,870+19.9%
46382$1,280−17.9%
46383$1,470−5.8%
46390$1,600+2.6%
46391Current$1,560—

Questions about ZIP 46391 rents

How much will Section 8 pay for a two-bedroom in ZIP 46391?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,560, that basic range is $1,404 to $1,716 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 46391 in?

ZIP 46391 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 46391 for FY 2027?

The two-bedroom FMR rose 9.9%, from $1,420 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 54.5%.

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