Location: Wayne County, IN | Metro: Wayne 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 | $840 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $259,242 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 47339, located in Indiana, is a suburban area that offers a mix of residential and commercial properties. It is characterized by a moderate cost of living and a diverse rental market. This analysis provides insights into the housing market conditions, focusing on key metrics relevant for landlords and small-portfolio investors.
Investors looking to enter the ZIP 47339 market can expect a balanced environment where rental prices are slightly below the fair market rent, making it attractive for both property owners and tenants. The median home value indicates a middle-class neighborhood, while the median income supports the affordability of the market rent. With a renter share of 16.8%, there is a steady demand for rental properties, though not excessively high. These factors combined present a viable opportunity for those interested in long-term, stable investments in this suburban area.
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.