Location: Bloomington, IN | Metro: Bloomington, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
The ZIP code 47426 is located in Clear Creek, Indiana, and is classified as a PO Box area, which means it lacks detailed population data. However, the median family income for Monroe County, where Clear Creek is situated, can provide some context. As of the latest data, the median family income in Monroe County is $65,000.
The median home value in Monroe County is around $180,000, indicating a modest residential market. For ZIP code 47426 specifically, the Family Monthly Rent (FMR) for Section 8 housing is set at $1130 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors considering participation in the Section 8 program.
Comparing the FMR to the general market rent in Clear Creek, the lack of specific local rent data makes it challenging to draw direct comparisons. However, given the modest median home values and family incomes in the surrounding area, it's reasonable to assume that market rents might be close to or slightly above the FMR.
For landlords and small-portfolio investors, ZIP code 47426 may suit a hands-off voucher operator rather than a hands-on value-add buyer. The stable rental environment, driven by government subsidies, aligns well with a passive investment strategy. However, those looking to actively manage properties and increase their value through improvements may find limited opportunities due to the area's classification and the nature of the data available.
Data Sources: FMR data from HUD (2027).
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.