Location: Fountain County, IN | Metro: Warren County, IN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $139,382 | 0.8% | C |
| 3BR | $1,350 | $206,986 | 0.65% | D |
| 4BR | $1,800 | $258,458 | 0.7% | D |
U.S. Census Bureau data (2024)
The real estate landscape in Attica, Indiana, specifically ZIP 47918, is currently defined by a median home value of $189,418. This figure provides a baseline for understanding the local property market. While the percentage of listings that have been reduced and the median days on market (DOM) are not available, these missing metrics suggest a stable market where neither sellers nor buyers are under significant pressure. In a stable market, pricing power tends to favor those who can hold out for their desired price, implying that landlords and small-portfolio investors can maintain or slightly increase their asking prices over the next 12-24 months without risking extended listing times.
On the rental side, the Fair Market Rent (FMR) for ZIP 47918 is set at $970 for fiscal year 2024, while the current market rent stands at $825 according to the Census ACS. This discrepancy indicates a potential opportunity for landlords to adjust their rental rates upward, aligning closer with the FMR. However, it's important to note that the rental market is also influenced by supply and demand dynamics, so landlords should be prepared to offer competitive amenities and conditions to attract tenants.
For long-term investors looking at appreciation in ZIP 47918, the setup implied by the data suggests limited growth potential. The median home value is relatively low, and without significant economic drivers such as job creation or population influx, it's unlikely that values will see substantial increases. Investors should focus on maintaining properties and ensuring they are well-located within the area to preserve their investment's value. Additionally, the slight disparity between market rents and the FMR offers a steady income stream, but capital appreciation may not be a strong component of the overall investment thesis.
To summarize, the current median home value, combined with the unknown reduction rates and DOM, points towards a stable market where pricing power can be maintained. The rental market presents an opportunity for modest rate increases, though appreciation of property values is expected to remain modest. Landlords and small-portfolio investors should aim for steady returns through rentals rather than expecting rapid growth in property values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.