Voucher-vs-Market Gap: South Bend-Mishawaka, IN HUD Metro FMR Area
Open-data reference.
In South Bend-Mishawaka, IN HUD Metro FMR Area, the HUD 2-BR FMR ($933) compared to PlainRent's 2-BR advertised-rent median ($1,292) produces a -27.8% gap. Vouchers comfortably cover market rent — voucher holders have flexibility in unit choice.
- 4th percentile by gap severity (of 371 metros)
- HUD FMR × PlainRent 2-BR median
- Classification: generous
What the Voucher-vs-Market Gap in South Bend-Mishawaka, IN HUD Metro FMR Area Tells You
In South Bend-Mishawaka, IN HUD Metro FMR Area (CBSA 43780), the HUD FY2025 2-bedroom Fair Market Rent of $$933/month is cross-joined with PlainRent's advertised 2-bedroom market median of $$1,292/month. The derived gap is -27.8%, which PlainVoucher classifies as "generous". Positive percentages mean the HUD voucher reference falls short of advertised rent; negative percentages mean the voucher overshoots the open market.
Ranked against 371 metros we track, South Bend-Mishawaka, IN HUD Metro FMR Area sits at the 4th percentile by gap severity — meaning 4% of metros show an equal or smaller gap. A negative gap indicates the HUD reference runs above advertised market rent here — voucher holders generally have better unit selection within the payment standard and lease-up times can be faster than in gap-stressed metros.
The gap metric is a PlainVoucher-derived figure, not a HUD-published statistic: we compute it as (HUD 2-BR FMR − PlainRent 2-BR median) ÷ PlainRent 2-BR median × 100, refreshed whenever either upstream dataset changes. Because PlainRent's median is based on advertised listings rather than leased rents, it trends slightly above actual paid rents in most metros — treat the gap as a directional signal, not a dollar-perfect forecast. Use it to compare South Bend-Mishawaka, IN HUD Metro FMR Area against peer metros in our gap directory, to flag portability candidates via the portability guide, or as a negotiation anchor with landlords at lease-up.
The numbers
- HUD 2-BR FMR (FY2025): $$933/mo
- PlainRent 2-BR market median: $$1,292/mo
- Gap: -27.8%
- Classification: generous
What this means
A negative gap means the HUD FMR reference exceeds advertised market rent. Voucher holders in South Bend-Mishawaka, IN HUD Metro FMR Area typically have good unit options at or below the payment standard, and may be able to lease up quickly once a voucher is issued. This is a favorable market from a voucher-holder's perspective.
How we compute this
Every month, PlainRent's advertised-rent index is cross-joined with HUD's latest published Fair Market Rent for the metro. The formula:
gap % = (HUD 2-BR FMR − PlainRent 2-BR median) / PlainRent 2-BR median × 100
Positive gap = voucher falls short. Negative gap = voucher covers market. See methodology for the full cross-DB join.
Related
- Full payment standards for South Bend-Mishawaka, IN HUD Metro FMR Area
- Payment Standards vs. FMR (guide)
- Voucher Portability — moving to a metro with better coverage
Nearby metro gaps
Compare the voucher-vs-market gap in metros near South Bend-Mishawaka, IN HUD Metro FMR Area:
- Bloomington, IN HUD Metro FMR Area · CBSA 14020
- Columbus, IN MSA · CBSA 18020
- Elkhart-Goshen, IN MSA · CBSA 21140
- Evansville, IN MSA · CBSA 21780
- Fort Wayne, IN HUD Metro FMR Area · CBSA 23060
Source: HUD USER Fair Market Rent FY2025, PlainRent advertised-rent index. Cross-DB join computed at runtime. Gap percent is a derived metric unique to PlainVoucher — not a HUD-published figure. See our methodology for the full calculation.
⚠ Disclaimer. Market-rent medians reflect advertised listings and may not match what actual voucher holders pay. Actual PHA payment standards can differ from HUD FMR by ±10%. Always confirm the current payment standard and market conditions with your PHA and a local housing counselor. PlainVoucher is not affiliated with HUD or any PHA.