Location: Clinton County, IN | Metro: Tipton 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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $174,219 | 0.68% | D |
| 3BR | $1,420 | $259,717 | 0.55% | F |
| 4BR | $1,640 | $331,182 | 0.5% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 46979 does not work favorably for landlords. The Fair Market Rent (FMR) set at $1090 for fiscal year 2024 is significantly higher than the actual market rent of $760, based on recent Census ACS data. This disparity suggests that landlords might struggle to find tenants willing to pay the higher FMR rate.
Acquisition in ZIP 46979 is moderately affordable. The median home value stands at $264,842. However, the lack of data on days on market (DOM) and the percentage of homes that have been subject to price cuts indicates an incomplete picture of the local real estate market dynamics. Without these figures, it's challenging to assess how quickly properties sell and at what prices.
Tenant demand is limited in ZIP 46979. With a total population of 4,908, only 8.0% are renters. This low renter share implies that there are fewer potential tenants relative to the overall population, which could make it difficult to fill rental units consistently.
Verdict: While the median home value in ZIP 46979 makes property acquisition moderately affordable, the unfavorable rent math and limited tenant demand pose significant challenges for landlords and small-portfolio investors. The discrepancy between the FMR and market rent rates, combined with the low percentage of renters, suggests that this area may not be ideal for generating strong rental income returns.
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.