Location: White County, IN | Metro: Jasper 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 | $900 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,520 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $152,806 | 0.78% | D |
| 3BR | $1,520 | $240,618 | 0.63% | D |
| 4BR | $1,800 | $314,312 | 0.57% | F |
U.S. Census Bureau data (2024)
The market in ZIP 47977, encompassing Remington, Indiana, reveals a dynamic environment that is currently in motion. With a Fair Market Rent (FMR) set at $1000 for fiscal year 2024, landlords can expect to align their rental prices closely with this benchmark to remain competitive. However, the actual market rent, as per the latest Census American Community Survey (ACS), stands at $823. This suggests that while the FMR is established as a guideline, the prevailing market conditions may be slightly softer, indicating a potential balance between supply and demand.
The median home value of $220,475 provides insight into the overall economic health of the area and the affordability for potential homeowners. While specific metrics such as the percentage of price-cut share and days on market (DOM) are not available, the gap between the FMR and market rent hints at a scenario where the supply might be slightly ahead of demand, leading to a competitive rental market. Landlords must consider this when setting their rents to ensure they attract tenants without undervaluing their properties.
A notable aspect of the ZIP 47977 market is the 15.9% renter share. This figure indicates a relatively low proportion of renters compared to owners, which could imply that there is less immediate pressure on rental availability. However, it also suggests that the long-term housing pressure is likely to increase as population growth or changes in economic conditions may lead to an uptick in the number of renters. The stability of the owner-occupied segment could mean that any future shifts towards a higher renter share will create opportunities for landlords and small-portfolio investors.
In conclusion, ZIP 47977 presents a balanced market with a slight indication of supply outpacing demand, but the low renter share suggests a potentially growing rental market over time. Investors should monitor local economic indicators and demographic trends to make informed decisions about rental pricing and property investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.