Section 8 Fair Market Rent (FMR) for ZIP 47010 - 2027

Location: Union County, IN | Metro: Franklin County, IN HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$830
1 Bedroom	$890
2 Bedrooms	$1,120
3 Bedrooms	$1,440
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

207

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

To determine if you should buy in ZIP code 47010 for Section 8 purposes, follow this decision tree:

Step 1: Debt Service Coverage Ratio (DSCR)

If the Fair Market Rent (FMR) of $960 does not cover the debt service on a property valued at $251,890, then the answer is No. A property must generate sufficient rental income to meet its mortgage payments and other expenses.

Step 2: Market Rent Comparison

The market rent is listed as N/A, which means there is insufficient data to make a comparison against the FMR of $960. This ambiguity makes it difficult to assess whether the property will be competitive in the local rental market. The answer here is It Depends.

Step 3: Rental Demand Analysis

The rental demand is also listed as N/A with 0.0% of renters and N/A-day days on market (DOM). These figures suggest that there is either very little rental activity or the data is incomplete. With such limited information, the answer is again It Depends.

In summary, while the FMR of $960 might cover debt service for a property priced at $251,890, the lack of clear data on market rents and rental demand makes it challenging to provide a definitive recommendation. Landlords and small-portfolio investors considering ZIP 47010 should seek additional local market insights to fill these data gaps before making a purchase decision.

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.