Location: Lawrence County, IN | Metro: Lawrence County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 47437 stands out due to its unique demographic and economic characteristics. With only 15 residents, it is one of the smallest communities in terms of population size. Notably, 100.0% of these residents are renters, indicating a complete reliance on rental housing within this area. The lack of data on median income and median home value suggests that there is either insufficient diversity in housing types or a very limited sample size, which could imply homogeneity in the housing market or a lack of comprehensive data collection.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 47437 is set at $990 for the fiscal year 2026. This figure represents the maximum amount that a landlord can receive through the Section 8 program for a unit in this ZIP code. However, the absence of market rent data means that we cannot directly compare the FMR to local rental rates. This gap in information could be due to a variety of factors, including the small size of the community or the low number of reported rental transactions.
Given the limited data available, the ZIP code 47437 presents a picture that is difficult to categorize definitively as either stable or transitional. The complete reliance on rental housing without corresponding income or home value metrics complicates any assessment of the area's economic health. Landlords and small-portfolio investors should proceed with caution, considering the potential risks associated with operating in a ZIP code where the economic indicators are incomplete or unavailable. The FMR provides a baseline for rental pricing, but without market data, making informed decisions about investment and management strategies becomes challenging.
Data Sources: FMR data from HUD (2027). 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.