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Fulton County/Royal Center/46978

46978

ZIPSAFMR
Fulton County, IN
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$850$850
1 BR$860$860
2 BR$1,050$1,050
3 BR$1,390$1,390
4 BR$1,450$1,450
5 BR$1,667Not available
6 BR$1,918Not available
7 BR$2,205Not available
8 BR$2,536Not available

Purchase Price Calculator

Maximum purchase price
$94,113

Cost breakdown

+Likely effective rent$1,050
HUD FMRUsed$1,050
Market rentN/A
Est. payment standardN/A
-Principal and interest-$476
Loan amount$75,290
Down payment$18,823
Rate6.50%
Term30 years
-Operating costs-$374
Property taxes-$94
Insurance-$175
Utilities$0
HOA$0
Management-$105
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,134(91.0% ROI)
Projected value
$101,349
Return breakdown
Property appreciation+$7,236
Loan principal paid down+$2,697
Rental cash flow+$7,200
5-year hold
+$29,178(155.0% ROI)
Projected value
$106,480
Return breakdown
Property appreciation+$12,367
Loan principal paid down+$4,810
Rental cash flow+$12,000
10-year hold
+$61,822(328.4% ROI)
Projected value
$120,473
Return breakdown
Property appreciation+$26,360
Loan principal paid down+$11,462
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 46978 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46978 (Royal Center, IN) is $1,050 a month. That is up 2.9% from $1,020 in FY 2026. Royal Center is in the Fulton 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 $1,034. Among 18 ZIP codes in Fulton County, 46978 is tied for the 8th-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46978 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 46978
BedroomsFY 2027Change90–110% range
Studio$850+2.4%$765–$935
1BR$860+2.4%$774–$946
2BR$1,050+2.9%$945–$1,155
3BR$1,390+3.0%$1,251–$1,529
4BR$1,450+2.8%$1,305–$1,595

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 46978
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$860$1,050$1,390$1,450
FY 2026$830$840$1,020$1,350$1,410
FY 2025$830$840$1,010$1,330$1,340
FY 2024area FMR$602$658$865$1,046$1,152
FY 2023area FMR$580$639$832$1,013$1,118

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

Two-bedroom rent in nearby Fulton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 46978
46922$1,030−1.9%
46931$1,010−3.8%
46939$1,010−3.8%
46945$1,030−1.9%
46950$1,0500.0%
46951$1,320+25.7%
46960$1,010−3.8%
46975$1,030−1.9%
46978Current$1,050—
46982$1,190+13.3%
46985$1,090+3.8%
46988$1,210+15.2%

Questions about ZIP 46978 rents

How much will Section 8 pay for a two-bedroom in ZIP 46978?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,034, which applies unless the housing authority uses Small Area FMRs, that basic range is $931 to $1,137 a month; under the ZIP-level Small Area FMR of $1,050 it would be $945 to $1,155. 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 46978 in?

ZIP 46978 is in the Fulton County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,034.

How much did fair market rent change in ZIP 46978 for FY 2027?

The two-bedroom FMR rose 2.9%, from $1,020 in FY 2026 to $1,050 in FY 2027. Since FY 2025 it has risen 4.0%.

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