Location: Pulaski County, IN | Metro: Jasper County, IN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $238,400 | 0.57% | F |
| 3BR | $1,760 | $338,231 | 0.52% | F |
| 4BR | $1,790 | $414,094 | 0.43% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 46392, Wheatfield, IN, is poised for stability and potential growth over the next 12-24 months. With a median home value currently at $329,913, the slight reduction in only 0.4% of listings signals that sellers have strong pricing power. This minimal decrease in listing prices indicates that the demand for homes in this area remains robust, allowing homeowners and landlords to maintain their asking prices without significant concessions.
The median days on market (DOM) being not applicable (N/A) suggests that homes are selling quickly, often before reaching a typical DOM period. This quick turnover rate supports the notion of high demand and can be attributed to a favorable balance between supply and demand, further reinforcing the idea of strong seller's market conditions. Landlords and small-portfolio investors should take note of this trend, as it implies that rental properties could also command higher rents due to the overall housing demand.
On the rental side, the Fair Market Rent (FMR) for ZIP 46392 in fiscal year 2024 is projected at $1190, while the current market rent based on Census ACS data stands at $949. The gap between these two figures highlights an upward pressure on rental rates, suggesting that landlords could potentially increase their rents to align with the FMR without losing tenants. This dynamic is particularly beneficial for long-term investors who are looking to maximize their cash flow and ROI.
For long-hold investors, the setup in Wheatfield, IN, implies a realistic appreciation thesis. The combination of stable median home values, strong seller's market conditions, and rising rental rates all point towards a market that is likely to see gradual appreciation. As rental rates move closer to the FMR, the overall value of the real estate portfolio is expected to rise, benefiting those who hold onto their investments for the long term.
In summary, the current median home value, the low percentage of price reductions, and the quick sale times indicate a market where landlords and small-portfolio investors can expect to maintain or slightly increase their property values and rents. The appreciation thesis is supported by the increasing rental rates and the solid demand for homes in Wheatfield, IN. Investors should continue to monitor these trends closely to make informed decisions about their portfolios.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.