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Porter County/Wheeler/46393

46393

ZIPSAFMR
Porter County, IN
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$1,160$1,120
1 BR$1,230$1,240
2 BR$1,490$1,480
3 BR$1,810$1,970
4 BR$1,970$2,170
5 BR$2,266Not available
6 BR$2,605Not available
7 BR$2,996Not available
8 BR$3,446Not available

Purchase Price Calculator

Maximum purchase price
$158,011

Cost breakdown

+Likely effective rent$1,480
HUD FMR$1,490
Market rentUsed$1,480
Est. payment standard (100%)$1,480
-Principal and interest-$799
Loan amount$126,409
Down payment$31,602
Rate6.50%
Term30 years
-Operating costs-$481
Property taxes-$158
Insurance-$175
Utilities$0
HOA$0
Management-$148
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,878(75.6% ROI)
Projected value
$170,160
Return breakdown
Property appreciation+$12,150
Loan principal paid down+$4,529
Rental cash flow+$7,200
5-year hold
+$40,840(129.2% ROI)
Projected value
$178,775
Return breakdown
Property appreciation+$20,764
Loan principal paid down+$8,076
Rental cash flow+$12,000
10-year hold
+$87,501(276.9% ROI)
Projected value
$202,267
Return breakdown
Property appreciation+$44,256
Loan principal paid down+$19,244
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.04
1 BR
0.98
2 BR
1.01
3 BR
0.88
4 BR
0.78
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46393 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46393 (Wheeler, IN) is $1,490 a month. That is up 7.2% from $1,390 in FY 2026. Wheeler 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 17 ZIP codes in Porter County, 46393 has the 6th-highest two-bedroom rent (county range $1,130–$2,020). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46393 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46393
BedroomsFY 2027Change90–110% range
Studio$1,160+14.9%$1,044–$1,276
1BR$1,230+7.9%$1,107–$1,353
2BR$1,490+7.2%$1,341–$1,639
3BR$1,810+6.5%$1,629–$1,991
4BR$1,970+7.7%$1,773–$2,167

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46393
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,230$1,490$1,810$1,970
FY 2026$1,010$1,140$1,390$1,700$1,830
FY 2025$910$1,040$1,260$1,550$1,680
FY 2024$890$1,050$1,280$1,580$1,720
FY 2023$690$830$1,020$1,250$1,390

Two-bedroom rent in nearby Porter County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46393
46342$1,430−4.0%
46347$1,130−24.2%
46348$1,360−8.7%
46360$1,240−16.8%
46368$1,480−0.7%
46383$1,470−1.3%
46384$1,480−0.7%
46385$1,590+6.7%
46391$1,560+4.7%
46393Current$1,490—
46403$1,220−18.1%
46405$1,460−2.0%

Questions about ZIP 46393 rents

How much will Section 8 pay for a two-bedroom in ZIP 46393?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,490, that basic range is $1,341 to $1,639 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 46393 in?

ZIP 46393 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 46393 for FY 2027?

The two-bedroom FMR rose 7.2%, from $1,390 in FY 2026 to $1,490 in FY 2027. Since FY 2023 it has risen 46.1%.

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