Location: Sullivan County, IN | Metro: Sullivan County, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
The ZIP code 47852 in Unknown, Indiana, presents a market in motion, driven by the snapshot of current economic conditions. With a Fair Market Rent (FMR) set at $920 for the fiscal year 2024, landlords and small-portfolio investors can gauge the rental value benchmark for their properties. The absence of specific market rent data suggests a less competitive environment, but this does not necessarily indicate lower rents. Instead, it points to a potentially stable market where rents align closely with the FMR.
The lack of detailed statistics on price-cut shares and days on market (DOM) implies that there isn't significant pressure on property owners to reduce prices or wait extended periods before securing tenants. This stability is further supported by the absence of a median home value figure, which could suggest a diverse range of housing options without any extreme outliers.
While the percentage of renters in the area is not specified, the implication of an unknown renter share can be interpreted as a sign of balanced housing pressure. A high renter share typically indicates long-term upward pressure on housing costs due to limited availability of affordable homes for purchase. Conversely, a low renter share might signal a market saturated with homeownership opportunities, reducing rental demand. In ZIP 47852, the undefined renter share suggests a market where both renting and buying remain viable options, preventing either side from dominating the housing landscape.
The dynamics of this market reveal a scenario where neither supply nor demand clearly outpaces the other. Landlords and investors can expect steady returns without the need for aggressive pricing strategies. The key to success in this ZIP code will be understanding local nuances, maintaining quality properties, and keeping abreast of regional economic shifts that could influence future rental trends.
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.