Location: Spencer County, IN | Metro: Spencer County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
The analysis of ZIP code 47617 in Spencer County, Indiana reveals several key points that landlords and small-portfolio investors should consider before making investment decisions.
First, regarding the rent math, the Fair Market Rent (FMR) for the area as of fiscal year 2026 is set at $960. However, the market rent for the area is currently unknown, which makes it difficult to assess whether the rent math works based on current market conditions. Landlords must rely on the FMR until more recent data becomes available.
Second, the affordability of acquisition in ZIP 47617 is unclear due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes requiring price cuts. Without these figures, it's impossible to provide a detailed assessment of the cost and feasibility of acquiring properties in this area.
Third, the tenant demand in ZIP 47617 cannot be quantified with the available data. The population size and the percentage of renters in the area are not specified, leaving a significant gap in understanding the potential occupancy rates and demand for rental properties.
In conclusion, while the Fair Market Rent for ZIP 47617 is established at $960, the absence of crucial market data such as current market rents, median home values, days on market, percentage of homes needing price reductions, and tenant demographics leaves many questions unanswered. Investors looking to enter this market will need to seek out additional, up-to-date information to make informed decisions about the viability of rental investments in Spencer County, Indiana.
Data Sources: FMR data from HUD (2027).
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.