Section 8 Fair Market Rent (FMR) for ZIP 47325 - 2027

Investment Score for ZIP 47325

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$810
2 Bedrooms	$1,030
3 Bedrooms	$1,290
4 Bedrooms	$1,370
5 Bedrooms	$1,589
6 Bedrooms	$1,780
7 Bedrooms	$1,922
8 Bedrooms	$2,018

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,290	$245,533	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, ZIP 47325 stands out due to its unique mix of economic indicators. With only 730 residents, it has a low rental rate of 9.0%, indicating that most residents own their homes. The median income is $66,189, which is relatively modest compared to the median home value of $220,484. This suggests that homeownership in ZIP 47325 is primarily achieved through savings or family transfers rather than current income levels alone. The voucher economics in ZIP 47325 present a clear opportunity for landlords. The Fair Market Rent (FMR) for the upcoming fiscal year 2024 is set at $920 per month, which is higher than the typical market rent in the area. Since there is no specific market rent data available for comparison, landlords can leverage the Section 8 voucher program to attract tenants who might otherwise struggle to afford housing in this ZIP code. This could be particularly beneficial given the high median home value, which may price out lower-income families from the rental market. Despite the high median home value, the data signature for ZIP 47325 reads as stable. The low rental rate and modest income levels suggest a community where long-term homeownership is common, and there is little indication of significant demographic shifts. However, the higher FMR compared to potential market rents could indicate a transitional phase where the government aims to support affordable housing in an area that might otherwise become unaffordable for lower-income residents.

In summary, ZIP 47325 offers a niche market for landlords willing to participate in the Section 8 voucher program. The $920 FMR for fiscal year 2024 provides a competitive edge over the unspecified local market rents, making it an attractive option for those seeking reliable tenants. The high median home value of $220,484 contrasts with the modest median income of $66,189, highlighting the importance of the voucher program in maintaining housing affordability.

• Residents: 730
• Renting: 9.0%
• Median Income: $66,189
• Median Home Value: $220,484
• FMR: $920 (ZIP 47325 FY 2024)

The data indicates a stable environment, but the role of the Section 8 voucher program in this ZIP code is crucial for balancing the high cost of living with the economic realities faced by many residents.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.