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Steuben County/Orland/46776

46776

ZIPSAFMR
Steuben County, IN
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$880$880
1 BR$890$890
2 BR$1,160$1,160
3 BR$1,470$1,470
4 BR$1,530$1,530
5 BR$1,759Not available
6 BR$2,023Not available
7 BR$2,327Not available
8 BR$2,676Not available

Purchase Price Calculator

Maximum purchase price
$110,459

Cost breakdown

+Likely effective rent$1,160
HUD FMRUsed$1,160
Market rentN/A
Est. payment standardN/A
-Principal and interest-$559
Loan amount$88,367
Down payment$22,092
Rate6.50%
Term30 years
-Operating costs-$401
Property taxes-$110
Insurance-$175
Utilities$0
HOA$0
Management-$116
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,859(85.4% ROI)
Projected value
$118,952
Return breakdown
Property appreciation+$8,493
Loan principal paid down+$3,166
Rental cash flow+$7,200
5-year hold
+$32,161(145.6% ROI)
Projected value
$124,974
Return breakdown
Property appreciation+$14,515
Loan principal paid down+$5,646
Rental cash flow+$12,000
10-year hold
+$68,391(309.6% ROI)
Projected value
$141,397
Return breakdown
Property appreciation+$30,938
Loan principal paid down+$13,453
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 46776 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46776 (Orland, IN) is $1,160 a month. That is up 1.8% from $1,140 in FY 2026. Orland is in the Steuben 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 $1,102. Among 10 ZIP codes in Steuben County, 46776 has the 2nd-highest two-bedroom rent (county range $1,010–$1,240). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46776 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46776
BedroomsFY 2027Change90–110% range
Studio$880+1.1%$792–$968
1BR$890+2.3%$801–$979
2BR$1,160+1.8%$1,044–$1,276
3BR$1,470+1.4%$1,323–$1,617
4BR$1,530+1.3%$1,377–$1,683

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46776
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$880$890$1,160$1,470$1,530
FY 2026$870$870$1,140$1,450$1,510
FY 2025$750$760$990$1,250$1,310
FY 2024area FMR$684$726$944$1,172$1,257
FY 2023area FMR$661$708$920$1,120$1,236

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Steuben County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46776
46703$1,070−7.8%
46705$1,010−12.9%
46737$1,240+6.9%
46742$1,040−10.3%
46747$1,130−2.6%
46761$1,010−12.9%
46776Current$1,160—
46779$1,070−7.8%
46793$1,010−12.9%
46795$1,080−6.9%

Questions about ZIP 46776 rents

How much will Section 8 pay for a two-bedroom in ZIP 46776?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,102, which applies unless the housing authority uses Small Area FMRs, that basic range is $992 to $1,212 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 46776 in?

ZIP 46776 is in the Steuben County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,102.

How much did fair market rent change in ZIP 46776 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,140 in FY 2026 to $1,160 in FY 2027. Since FY 2025 it has risen 17.2%.

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