Location: Lafayette-West Lafayette, IN | Metro: Lafayette-West Lafayette, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
To classify ZIP code 47903 in Unknown, IN, we must consider both the yield and stability factors based on the available data.
The yield is primarily driven by the Fair Market Rent (FMR) for the fiscal year 2024, which stands at $1070 for this ZIP code. This figure is critical for determining rental yields, especially when compared to other metrics such as market rent and home values. However, due to the lack of specific market rent and home value data for ZIP 47903, it's challenging to provide a complete analysis. The FMR suggests that landlords can expect a rental income of $1070 per unit per month, assuming they can secure tenants willing to pay the maximum allowable rent under Section 8 guidelines.
Moving on to stability, there is insufficient data to make a precise assessment. The percentage of renters, days on market (DOM), and median income figures are all marked as N/A. Without these metrics, it's difficult to gauge the financial health of potential tenants or the demand for rental properties in this area. Typically, higher percentages of renters and shorter DOM periods indicate a stable market, while lower median incomes might suggest less financial security among residents.
Given the available data, ZIP 47903 appears to offer a moderate yield opportunity. With an FMR of $1070, landlords can anticipate decent rental income. However, the lack of detailed stability indicators means that the market's predictability cannot be fully assessed. Therefore, this ZIP code does not clearly fit into a high-yield/low-stability flip-style market or a steady-cashflow zone. It represents a scenario where landlords must rely on the FMR for yield expectations but should proceed with caution until more comprehensive data on tenant demographics and market conditions becomes available.
To make a more informed decision, landlords and small-portfolio investors should seek additional local market data to understand the full picture regarding both yield and stability in ZIP 47903.
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.