Section 8 Fair Market Rent (FMR) for ZIP 47336 - 2027

Location: Jay County, IN | Metro: Muncie, IN MSA

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$810
1 Bedroom$820
2 Bedrooms$1,070
3 Bedrooms$1,400
4 Bedrooms$1,520
5 Bedrooms$1,763
6 Bedrooms$1,975
7 Bedrooms$2,133
8 Bedrooms$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
2,851
Median Household Income
$50,633
Housing Units
1,452
Renter Percentage
21.6%
Occupancy Rate
88.8%
Renter Occupied
279

Housing Authorities Serving ZIP 47336

ZIP 47336, located in Dunkirk, Indiana, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $880, while the market rent stands at $838. This creates a positive spread of $42 per unit, which can be leveraged to ensure steady cash flow.

The median home value in ZIP 47336 is $126,672, indicating a relatively low-cost investment opportunity. Landlords and small-portfolio investors can acquire properties at a lower initial cost, which, when combined with the FMR, allows for a higher margin of profit.

Furthermore, the ZIP code has a 21.6% renter share, meaning there is a significant portion of the population relying on rental housing. With a median income of $50,633, many residents are likely eligible for Section 8 assistance, ensuring a stable tenant pool.

The low cost of living index in Dunkirk, IN, at 83.7 (with the U.S. average being 100), suggests that expenses such as utilities and maintenance are also relatively low, further enhancing the profitability of rental properties in this area.

While ZIP 47336 does not offer substantial appreciation potential, given the 0.1% price-cut share and the non-applicable day DOM (Days on Market), it serves as a reliable component of a diversified portfolio. The primary focus should be on maintaining a steady stream of rental income rather than seeking capital gains.

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.