Location: LaGrange County, IN | Metro: LaGrange County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 46771 stands as a unique market segment within the broader real estate landscape. With a Fair Market Rent (FMR) of $980 for the fiscal year 2026, it represents a snapshot of rental pricing expectations set by the government for this area. However, the lack of available market rent data indicates a scarcity of current information on actual rental rates, suggesting that either the market is underreported or there's limited activity in the rental sector.
The absence of data on price-cut share and days on market (DOM) makes it challenging to assess the immediate supply-demand dynamics. Typically, a high price-cut share or longer DOM would indicate a market where supply exceeds demand, but without these metrics, we cannot make such an inference. Similarly, the median home value being listed as N/A suggests that comprehensive data on homeownership values is also lacking, further complicating the picture of this ZIP's overall real estate health.
A particularly striking feature of ZIP 46771 is the reported 0.0% renter share. This statistic, if accurate, points towards a predominantly owner-occupied area with minimal rental activity. Such a low renter share can be indicative of several underlying conditions. Firstly, it may suggest strong economic stability among residents, allowing them to purchase homes rather than rent. Secondly, it could reflect a preference for homeownership in the community, possibly due to cultural factors or local incentives. Lastly, it might signal a lack of rental properties, indicating a potential gap in the market for landlords and investors looking to capitalize on rental opportunities.
In the context of long-term housing pressures, a low renter share typically means less competitive rental market conditions. However, it also implies that any increase in population or economic shifts could rapidly change the dynamics, creating new pressures on housing availability and affordability. Landlords and small-portfolio investors should closely monitor trends in population growth, job creation, and economic development within ZIP 46771 to anticipate future changes in housing demand.
To fully understand the market's trajectory, it would be beneficial to gather more detailed and timely data on rental prices, home values, and occupancy rates. This information will help clarify whether the market is currently experiencing a surplus of housing supply or a shortage, guiding investment decisions accordingly.
Data Sources: FMR data from HUD (2027). 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.