Location: Indianapolis-Carmel, IN | Metro: Bloomington, 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 | $810 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $189,638 | 0.53% | F |
| 3BR | $1,300 | $271,378 | 0.48% | F |
| 4BR | $1,600 | $352,345 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 47433, located in Gosport, Indiana, within Owen County, stands out due to its unique demographic and economic characteristics. With a total population of 4,176 residents, it has a rental rate of 26.1%, indicating a moderate demand for rental properties. The median household income in this area is $59,520, which is relatively modest compared to national averages. However, the median home value is notably higher at $244,385, suggesting a stable housing market with a mix of owner-occupied and rental properties.
When analyzing the voucher economics, the Fair Market Rent (FMR) for ZIP 47433 in fiscal year 2024 is set at $1,020. This is slightly below the market rent, which is recorded at $1,048 according to the latest Census American Community Survey (ACS) data. Landlords and small-portfolio investors should be aware that while the FMR provides a baseline for rental assistance, the actual market rates may require adjustments to ensure profitability and compliance with voucher programs.
The data signature for ZIP 47433 reads as stable. The median home value suggests a consistent appreciation in property values, which can be beneficial for long-term investments. Additionally, the slight disparity between the FMR and market rent indicates that while there is some flexibility, the local housing market is not experiencing significant volatility. For investors looking to enter or expand their presence in Owen County, ZIP 47433 presents an opportunity for steady returns through both owner-occupied and rental properties, with the potential for leveraging Section 8 vouchers to maintain occupancy levels and manage cash flows effectively.
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.