Location: White County, IN | Metro: White County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The ZIP code 47929 stands out due to its unique demographic and economic characteristics. With only 758 residents, it is relatively small, yet 23.3% of those residents are renters, indicating a modest but present rental market. The median income for the area is $73,036, which is above the national average, suggesting that residents have a higher purchasing power. The median home value is $222,312, reflecting the overall stability and value of the housing stock in this ZIP code.
The Federal Market Rent (FMR) for ZIP 47929 is set at $1,000 for fiscal year 2026, while the actual market rent, based on Census American Community Survey data, is $683. This means that landlords participating in the Section 8 program can expect a higher rent reimbursement compared to the typical market rate. Specifically, the difference between the FMR and the market rent is $317 per month, which could be a significant benefit for landlords who are willing to take part in the program. The gap indicates that the government is subsidizing a portion of the rent to ensure affordability for low-income families, making the ZIP code an attractive option for landlords looking to secure stable tenants with government-backed rental assistance.
Based on the data signature, ZIP 47929 appears to be in a stable state. The relatively high median income suggests that the local economy is performing well, and the modest rental population indicates a balanced housing market. Additionally, the positive disparity between the FMR and the market rent presents an opportunity for landlords to benefit financially from the Section 8 program without significantly overpricing their units. For small-portfolio investors, this ZIP code offers a combination of financial incentives and economic stability, making it a solid choice for investment in affordable housing.
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.