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Starke County/Hamlet/46532

46532

ZIPSAFMR
Starke County, IN
Zillow

ZIP Investment Score

126Above average

095130300
BRFMR
Eff. Rent
0 BR$900$900
1 BR$940$940
2 BR$1,190$1,190
3 BR$1,460$1,460
4 BR$1,800$1,800
5 BR$2,070Not available
6 BR$2,380Not available
7 BR$2,738Not available
8 BR$3,148Not available

Purchase Price Calculator

Maximum purchase price
$114,917

Cost breakdown

+Likely effective rent$1,190
HUD FMRUsed$1,190
Market rentN/A
Est. payment standardN/A
-Principal and interest-$581
Loan amount$91,934
Down payment$22,983
Rate6.50%
Term30 years
-Operating costs-$409
Property taxes-$115
Insurance-$175
Utilities$0
HOA$0
Management-$119
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,330(84.1% ROI)
Projected value
$123,753
Return breakdown
Property appreciation+$8,836
Loan principal paid down+$3,294
Rental cash flow+$7,200
5-year hold
+$32,975(143.5% ROI)
Projected value
$130,018
Return breakdown
Property appreciation+$15,101
Loan principal paid down+$5,874
Rental cash flow+$12,000
10-year hold
+$70,182(305.4% ROI)
Projected value
$147,103
Return breakdown
Property appreciation+$32,186
Loan principal paid down+$13,996
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 46532 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46532 (Hamlet, IN) is $1,190 a month. That is up 5.3% from $1,130 in FY 2026. Hamlet is in the Starke County, IN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,014. Among 11 ZIP codes in Starke County, 46532 has the 2nd-highest two-bedroom rent (county range $1,010–$1,250). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46532 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46532
BedroomsFY 2027Change90–110% range
Studio$900+9.8%$810–$990
1BR$940+6.8%$846–$1,034
2BR$1,190+5.3%$1,071–$1,309
3BR$1,460+6.6%$1,314–$1,606
4BR$1,800+2.9%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46532
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$900$940$1,190$1,460$1,800
FY 2026$820$880$1,130$1,370$1,750
FY 2025$730$810$1,050$1,270$1,590
FY 2024$680$820$1,010$1,290$1,450
FY 2023$620$750$930$1,210$1,340

Two-bedroom rent in nearby Starke County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46532
46366$1,080−9.2%
46374$1,060−10.9%
46511$1,050−11.8%
46531$1,250+5.0%
46532Current$1,190—
46534$1,010−15.1%
46563$1,170−1.7%
46574$1,170−1.7%
46960$1,010−15.1%
46968$1,010−15.1%
46996$1,010−15.1%

Questions about ZIP 46532 rents

How much will Section 8 pay for a two-bedroom in ZIP 46532?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 46532 in?

ZIP 46532 is in the Starke County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 46532 for FY 2027?

The two-bedroom FMR rose 5.3%, from $1,130 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 28.0%.

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