Location: LaGrange County, IN | Metro: LaGrange County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 46789 presents a dynamic rental market with a strong emphasis on renters. The Fair Market Rent (FMR) stands at $1,010, reflecting the rental price benchmark set by HUD for the fiscal year 2026. This figure indicates the average rent that can be charged for a unit to be considered affordable to low-income families without subsidies. Despite the lack of current market rent data, the 100.0% renter share suggests a significant reliance on rental properties within this area.
A 100% renter share implies a high concentration of tenants, which often correlates with long-term housing pressure. In such markets, there is a consistent need for rental units, driving up demand and potentially influencing the overall housing landscape. Landlords and small-portfolio investors should consider this high demand when evaluating their investment strategies in ZIP 46789.
With the absence of specific data regarding price-cut shares, days on market (DOM), and median home values, it's challenging to pinpoint whether supply currently outpaces demand or vice versa. However, the high renter share points towards a scenario where demand for rental properties is likely robust, possibly indicating a tight market where rental units are quickly occupied once they become available.
In summary, ZIP 46789 is characterized by a strong rental presence, with all residents identified as renters. This trend underscores a market that is likely to experience ongoing housing pressure, making it an attractive area for those looking to invest in rental properties. The FMR provides a clear guideline for pricing units to remain competitive and accessible within the market parameters set by HUD.
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.