Section 8 Fair Market Rent (FMR) for ZIP 47033 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 47033 in the metro area for fiscal year 2026 is set at $990. This figure represents the payment standard for landlords participating in the Section 8 program, which is not necessarily the amount tenants will pay as rent. Instead, it's the maximum amount that the Housing Choice Voucher program will subsidize per month.

To understand the potential demand for your rental property under Section 8, consider the N/A% share of renters in the area. This percentage indicates the proportion of residents who rely on rental assistance, suggesting a significant interest in affordable housing options.

When comparing the FMR to the average market rent in ZIP 47033, note that the data shows N/A. This means that the FMR of $990 could be higher or lower than typical rents, depending on the specific location and type of property. However, since the FMR is designed to reflect the median rent for a two-bedroom apartment, it provides a useful benchmark for pricing your property.

In terms of acquiring a property in this ZIP code, the median home value is listed as N/A. This can help you estimate the cost of purchasing a rental property and determine if the $990 subsidy would cover your expenses adequately.

Before making the decision to participate in Section 8, verify that your property meets the required standards for inspection and rental. The Housing Authority will conduct an inspection to ensure your property is up to code and safe for occupancy. This is a critical step to avoid delays in receiving payments and to ensure compliance with the program.

Data Sources: FMR data from HUD (2027).

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.