Section 8 Fair Market Rent (FMR) for ZIP 47458 - 2027
Location: Bloomington, IN | Metro: Bloomington, IN HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,030 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
The skepticism surrounding investing in ZIP code 47458, located in Smithville, Indiana, is understandable given the limited data available. Here are some key points to consider:
- Will FMR $1180 (zip FY 2024) cover the mortgage on a N/A home?: The Fair Market Rent (FMR) for ZIP 47458 is set at $1180 for FY 2024. However, without specific information on median home values or typical mortgage costs, it's challenging to provide a definitive answer. The data indicates that ZIP 47458 is primarily designated for PO Box delivery, which suggests minimal residential development.
- Is there enough renter demand at 0.0%?: The data shows that the total population of ZIP 47458 is only 34 individuals, with 10 households. This low population density implies limited rental demand. It's crucial to explore adjacent ZIP codes or larger areas within Monroe County for a better understanding of potential rental markets.
- Will vouchers keep pace with N/A market rents?: Given the lack of specific data on market rents and voucher usage in ZIP 47458, it's difficult to assess whether housing vouchers will cover the cost of renting. The absence of such data could indicate that there isn't a significant need for subsidized housing in this area.
The available data suggests that ZIP 47458 may not be an ideal investment opportunity due to its small size and limited residential development. Investors should look into broader trends in Monroe County or nearby areas to make informed decisions. Additionally, exploring other sources for more detailed local real estate data might provide further insights.
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.