Real Estate Investing in Fairmount, Indiana (46928)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46928 (Fairmount, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fairmount, IN (46928)?
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Market Analysis: 46928 Fairmount
The 46928 ZIP covers a section of Fairmount that demands careful diligence. Prices near $176K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 46928 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within IN, ZIP 46928 trails on several market indicators that neighboring Grant County submarkets outperform. The gap is real and substantial enough to shape underwriting.
A healthy renter share of 18% in 46928 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. resilient returns are possible in 46928, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Fairmount:
Property Strategy for 46928
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $105,735 | $980 | 6.7% | +8.2% | $52,867 |
| 3BR | $161,715 | $1,290 | 5.7% | +8.0% | $53,905 |
| 4BR | $222,465 | $1,450 | 4.7% | +6.8% | $55,616 |
Market Trends
Home Value History (with trend line)
📊 How Does 46928 Compare?
| Metric | 46928 | Fairmount | Marion, IN | Indiana |
|---|---|---|---|---|
| Home Value | $176,083 | $176,083 | N/A | $248,442 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 7.7% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46928 (Fairmount, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $176,083 |
| Monthly Rent | $882 |
| Price-to-Rent | 16.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46928
Population: 4,450
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46928
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does house hacking make sense in Fairmount, IN?
House hacking in Fairmount, IN is reasonable to execute. Prices around $176K and rents of $882/mo solid owner-occupant economics.
Is it easy to find good tenants in Fairmount, IN?
The renter base in Fairmount, IN is reasonable for the $882/mo price point. Screening well and pricing to market typically yields measured tenants.
Is Fairmount, IN a friendly market for rental owners?
For rental operators, Fairmount, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is Fairmount, IN a smart market for rental property?
With a 3.0/5 investability score, Fairmount, IN ranks as a solid market for rental property investors. Median prices of $176K and rents of $882/mo drive the underlying numbers.
What is the median home value in Fairmount, IN?
Expect median prices around $176K in Fairmount, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
You know 46928 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46928 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 46928 ranks in Marion, IN
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