Location: Columbus, IN | Metro: Columbus, IN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 47226 stands out due to its unique data profile. With only 165 residents, it is among the smallest ZIP codes in terms of population. A significant portion of the residents, 58.0%, rent their homes, indicating a notable demand for rental properties in the area. The median income for residents is $58,750, which provides insight into the economic status of the community. However, the median home value is listed as N/A, suggesting that there might be limited owner-occupied housing units in this ZIP code.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 47226 in fiscal year 2024 is set at $940. This figure is notably higher than the market rent average of $776, as reported by the Census Bureau's American Community Survey. This disparity means that landlords in ZIP 47226 can potentially benefit from the higher reimbursement rates offered by the Section 8 program, which could offset any perceived risks associated with renting to tenants with vouchers.
The data signature for ZIP 47226 reads as stable. Despite the small population size, the high percentage of renters and the favorable gap between the FMR and market rent suggest a consistent demand for affordable rental housing. Landlords and small-portfolio investors should take note of these figures, particularly the higher FMR compared to the local market rate, as it presents an opportunity for steady income while participating in the Section 8 program. The economic stability indicated by the median income also supports the idea that the ZIP code is a reliable investment environment for those interested in affordable housing solutions.
Key Figures:
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.