Section 8 Fair Market Rent (FMR) for ZIP 47270 - 2027

Location: Jennings County, IN | Metro: Jefferson County, IN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$820
2 Bedrooms	$1,040
3 Bedrooms	$1,340
4 Bedrooms	$1,460
5 Bedrooms	$1,694
6 Bedrooms	$1,897
7 Bedrooms	$2,049
8 Bedrooms	$2,151

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

510

Median Household Income

$83,387

Housing Units

210

Renter Percentage

8.3%

Occupancy Rate

98.1%

Renter Occupied

The ZIP code 47270, located in the heart of Indiana, offers a stable and predictable market for landlords and small-portfolio investors. The area benefits from a mix of residential and light commercial properties, providing a solid foundation for rental investments.

Fair Market Rent (FMR): The Fair Market Rent for the metro area in fiscal year 2026 is set at $990, indicating a consistent demand for affordable housing options.
Renter Share: With 8.3% of residents being renters, there is a notable but not overwhelming population of tenants, suggesting a balanced market.
Median Home Value: The median home value stands at $239,940, which is relatively low compared to other regions in the state, making it an attractive area for first-time buyers and investors alike.
Median Income: The median household income in the area is $83,387, providing evidence that residents have sufficient financial means to cover their living expenses, including rent.
Days on Market (DOM): Although the exact number of days on market is not available, a lower median home value often correlates with quicker sales, benefiting landlords looking to turn over properties.

Investors considering the ZIP 47270 market should take note of the moderate renter share and the reasonable median home value, which together suggest a manageable investment environment. The established Fair Market Rent provides a benchmark for pricing units, ensuring they remain competitive and attractive to potential tenants. The median income figure indicates that most residents can afford the rents without significant strain, supporting long-term tenancy stability. While specific days on market data would be useful for gauging property turnover speed, the overall economic indicators point to a viable and steady rental market for both landlords and small-portfolio investors.

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.