Location: Sullivan County, IN | Metro: Sullivan County, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The classification of ZIP 47855 (Hymera, IN) hinges on its financial metrics: yield and stability. Yield can be assessed by comparing the Fair Market Rent (FMR) of $970 for the fiscal year 2024 against the market rent of $873 and the median home value of $76,468. Stability is gauged by looking at the percentage of renters, which stands at 37.3%, the median household income of $47,102, and the lack of available data on days on market (DOM).
The FMR being higher than the market rent suggests that there is potential for higher rental yields if landlords can secure tenants willing to pay closer to the FMR. This indicates a market where flipping properties into rental units could generate above-average returns. However, the median home value is relatively low, which means that the overall investment cost is also lower, potentially making the property less attractive to buyers in the future should the landlord wish to sell.
Stability in this context is somewhat compromised due to the absence of DOM data. The median household income of $47,102 provides insight into the economic health of the area, but it does not directly correlate with rental stability. A significant portion of residents are renters (37.3%), which is a positive sign for landlords looking to maintain a steady cash flow, but it also implies a higher turnover rate and potential vacancy issues.
In summary, ZIP 47855 leans towards a high-yield/low-stability market. The primary driver for this classification is the substantial gap between the FMR ($970) and the current market rent ($873), indicating an opportunity for higher returns. Conversely, the low median home value ($76,468) and limited income levels ($47,102) suggest that while yields might be higher, maintaining consistent occupancy and stable cash flow could be challenging due to the economic conditions and potential tenant mobility.
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.