Section 8 Fair Market Rent (FMR) for ZIP 47367 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Skeptical investors considering Section 8 properties in ZIP code 47367 might have several concerns regarding the feasibility of such investments. Let's address these points directly using the available data.

• Objection: Will FMR $920 (zip FY 2024) cover the mortgage on a N/A home? The data does not provide the average home price in ZIP 47367, making it impossible to calculate an exact mortgage payment. However, the Fair Market Rent (FMR) set at $920 for 2024 can be used to estimate potential rental income. To determine if this amount will cover a mortgage, investors need to know the typical interest rates and loan terms for the area. Without this information, we cannot definitively say whether the FMR will cover the mortgage, but it serves as a baseline for expected rental income.
• Objection: Is there enough renter demand at 0.0%? The data indicates that the renter demand percentage is 0.0%, which suggests a complete lack of private market renters in ZIP 47367. This is a critical point for investors, as it means the property will likely only attract tenants through the Section 8 program. While this eliminates the risk of market fluctuations, it also means that the success of the investment hinges entirely on the availability and willingness of Section 8 tenants to occupy the property. Investors must weigh the stability of guaranteed income against the limitations of having a captive audience.
• Objection: Will vouchers keep pace with N/A market rents? Given that the voucher rate is set at $920 for 2024, it is crucial to compare this figure with the actual market rents for similar properties. Unfortunately, the data does not specify the market rents in ZIP 47367, leaving a gap in our analysis. If the market rents are higher, landlords might find themselves subsidizing the difference between the voucher amount and what the market demands. Conversely, if the market rents are lower, the voucher rate could be generous. Investors should monitor local rental trends to ensure they align with the voucher rates.

The data provides insights into the Fair Market Rent and the level of renter demand, but lacks details on home prices and market rents. This makes it challenging to give a comprehensive financial outlook without further research. For a thorough assessment, investors should consult local real estate agents or other sources to fill in these gaps.

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.