Location: Perry County, IN | Metro: Crawford County, IN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $219,840 | 0.56% | F |
| 3BR | $1,670 | $194,328 | 0.86% | C |
| 4BR | $1,980 | $298,557 | 0.66% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 47513, which includes Birdseye, IN, is set at $1,030 for metro fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning that if a landlord participates in the program, they will receive up to $1,030 per month for a unit, regardless of the actual rent charged. However, it's important to note that this is not the rent you should charge your tenants.
According to recent Census data, the average rent for properties in ZIP 47513 is around $625. This indicates that the FMR is significantly higher than the typical market rate, providing a financial cushion for landlords who choose to participate in the Section 8 program.
The 10.5% renter share suggests that about one in ten residents in this area are likely seeking rental accommodations. This percentage can help gauge the potential demand for rental properties, especially those accepting Section 8 vouchers. Given the lower overall rental rates, there is a strong likelihood that many renters would find the $1,030 payment standard attractive, increasing the chances of securing a tenant quickly.
When considering the acquisition cost of a property, the median home value in the area is approximately $159,931. This figure gives a baseline for understanding the investment required to enter the rental market in Birdseye, IN. It's crucial to factor in maintenance costs, property taxes, insurance, and other expenses when determining whether the $1,030 monthly payment is sufficient for your needs.
Before making a final decision to accept a Section 8 tenant, verify that the property meets all necessary safety and habitability standards. The housing authority will conduct an inspection to ensure the unit is up to code, so being proactive in this regard can save time and avoid complications later on.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.