Location: Knox County, IN | Metro: Knox County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 47535 in Knox County, Indiana reveals key insights for potential landlords and small-portfolio investors.
The rent math does not clearly work in favor of landlords given the limited data. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. However, the specific market rent for ZIP 47535 is not available, making it difficult to compare and determine profitability directly. Landlords should seek additional local data to make informed decisions about rental pricing.
Acquisition in ZIP 47535 is relatively affordable with a median home value of $116,768. The lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the housing market may be stable, but further investigation into recent sales trends would provide a clearer picture of affordability and liquidity.
Tenant demand is present in ZIP 47535, with a total population of 807 and a significant 29.6% of residents being renters. This indicates a steady pool of potential tenants who can occupy properties at or near the FMR rate, assuming the local market rent aligns closely with the metro area's FMR.
Verdict: ZIP 47535 offers an affordable entry point for acquiring properties, with a median home value well below many urban areas. Despite the absence of specific market rent data, the presence of a substantial renter share among a modest population base suggests viable tenant demand. Landlords should conduct thorough local market research to ensure rental rates are competitive and sustainable, given the reliance on metro-wide FMR data rather than precise local figures.
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.