Location: Martin County, IN | Metro: Daviess 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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $207,337 | 0.63% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 47449 presents a unique set of dynamics that can be inferred from the available data. The Fair Market Rent (FMR) for the area is set at $990 for fiscal year 2026, indicating a benchmark that landlords should aim to meet or slightly exceed to remain competitive. Despite the FMR being defined, the current market rent remains unspecified, suggesting either a lack of recent data or a stable market where rents closely follow the FMR.
The median home value of $185,827 provides insight into the overall housing affordability and investment potential in the area. This figure, combined with the FMR, suggests a market where homeownership is relatively accessible compared to rental costs, which could influence the balance between renters and buyers.
A key metric to consider is the 2.9% renter share of the total population. This low percentage indicates a strong preference for homeownership over renting, which can signal less immediate pressure on the rental market. However, it also implies that any increase in the number of renters could lead to significant upward pressure on rents due to limited supply.
The absence of specific data on price-cut share and days on market (DOM) makes it challenging to determine if there is currently an oversupply or undersupply of rental properties. Typically, a high price-cut share or longer DOM would suggest a surplus of listings relative to demand, whereas lower values would indicate a tight market. In the absence of these figures, landlords should monitor local trends closely to ensure they adjust their pricing strategies accordingly.
In summary, ZIP 47449 appears to be a market characterized by a strong homeownership bias, with rental dynamics that are somewhat opaque due to missing data points. Landlords and small-portfolio investors must stay vigilant to the evolving preferences and economic conditions that could shift the balance between supply and demand in the rental sector.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.