Location: Orange County, IN | Metro: Crawford County, IN
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 | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,410 | $218,535 | 0.65% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 47175 presents a dynamic environment for landlords and small-portfolio investors, characterized by a specific set of economic indicators that offer insight into the current state of housing demand and supply. The Fair Market Rent (FMR) for the area is established at $960, which reflects the rental standards set by HUD for fiscal year 2026. Although the exact market rent and days on market (DOM) figures are not available, the median home value stands at $189,668, providing a baseline understanding of property values.
A notable feature of this market is the 15.8% renter share, indicating a significant portion of the population relies on rental housing. This high percentage suggests a consistent long-term housing pressure, as a larger number of residents are likely to continue seeking rental properties rather than purchasing homes. Such a trend can be indicative of a workforce that is either transient or economically constrained, leading to a steady demand for rental units.
The absence of data regarding price-cut shares and DOM implies that there might be limited recent transactional activity, or that the data is not widely reported. However, the FMR figure being higher than typical market rents could suggest that the demand for rental housing is strong, potentially outpacing the supply. Landlords and investors should pay close attention to the local economy and job market trends to gauge how these factors might influence the housing dynamics in ZIP 47175.
In summary, ZIP 47175 appears to be a market driven by rental demand, supported by a relatively high renter share and an established FMR. While direct comparisons between supply and demand are challenging without complete data, the underlying economic conditions point towards a scenario where rental opportunities are likely to remain robust, given the existing trends.
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.