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Miami County/Kokomo/46901

46901

ZIPSAFMR
Miami County, IN
Zillow

ZIP Investment Score

135High yield potential

095130300
BRFMR
Eff. Rent
0 BR$860$820
1 BR$870$910
2 BR$1,120$970
3 BR$1,350$1,260
4 BR$1,550$1,600
5 BR$1,782Not available
6 BR$2,050Not available
7 BR$2,357Not available
8 BR$2,711Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMR$1,120
Market rentUsed$970
Est. payment standard (91%)$1,020
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.05
1 BR
0.94
2 BR
1.15
3 BR
1.07
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 46901 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46901 (Kokomo, IN) is $1,120 a month. That is up 6.7% from $1,050 in FY 2026. Kokomo is in the Miami 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 18 ZIP codes in Miami County, 46901 has the 4th-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46901 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46901
BedroomsFY 2027Change90–110% range
Studio$860+4.9%$774–$946
1BR$870+4.8%$783–$957
2BR$1,120+6.7%$1,008–$1,232
3BR$1,350+4.7%$1,215–$1,485
4BR$1,550+6.2%$1,395–$1,705

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46901
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$860$870$1,120$1,350$1,550
FY 2026$820$830$1,050$1,290$1,460
FY 2025$740$750$940$1,180$1,330
FY 2024$720$730$900$1,190$1,310
FY 2023$640$670$830$1,120$1,240

Two-bedroom rent in nearby Miami County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46901
46901Current$1,120—
46910$1,090−2.7%
46911$1,030−8.0%
46914$1,010−9.8%
46919$1,020−8.9%
46921$1,010−9.8%
46926$1,010−9.8%
46932$1,020−8.9%
46936$1,180+5.4%
46951$1,320+17.9%
46958$1,040−7.1%
46959$1,010−9.8%

Questions about ZIP 46901 rents

How much will Section 8 pay for a two-bedroom in ZIP 46901?

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 $1,120 it would be $1,008 to $1,232. 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 46901 in?

ZIP 46901 is in the Miami 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 46901 for FY 2027?

The two-bedroom FMR rose 6.7%, from $1,050 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 34.9%.

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