Location: Miami County, IN | Metro: Miami County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
The market in ZIP code 46971 is currently defined by a significant benchmark: the Fair Market Rent (FMR) stands at $960 for fiscal year 2026, indicating a stable rental environment. Despite the lack of specific data on market rent, days on market (DOM), and median home value, the presence of an FMR suggests a regulated market, likely influenced by government programs such as Section 8.
The absence of a reported market rent figure contrasts with the established FMR, which might imply that the local rental market is closely aligned with federal guidelines or that there's limited private rental activity outside of subsidized housing. This alignment could be due to a strong presence of subsidized housing units, or it could indicate that the market is tightly controlled, possibly reflecting a balanced supply and demand scenario.
The unavailability of data on the percentage of homes sold at a price cut and the median number of days a property remains on the market before selling points to a potentially opaque or less active real estate market in terms of sales. However, the focus on rental dynamics, particularly the FMR, suggests that the rental sector may be more relevant to investors and landlords looking to enter or expand in this area.
The N/A% renter share statistic, while lacking specific numbers, hints at a dynamic where renters play a crucial role in the housing ecosystem of ZIP 46971. In markets with a high renter share, there is often sustained pressure on rental properties due to the reliance on leasing rather than homeownership. This can lead to a steady demand for rental units, making such areas attractive for landlords and small-portfolio investors who are willing to comply with the regulations associated with subsidized housing.
In summary, ZIP 46971 appears to be a market driven primarily by rental dynamics, with a notable emphasis on government-regulated rents. The absence of certain data points, especially those related to home sales, indicates that the rental sector may be more vibrant and relevant for investment considerations. For landlords and investors, understanding and navigating the regulations around the FMR will be key to successfully operating in this ZIP code.
Data Sources: FMR data from HUD (2027).
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.