Location: Perry County, IN | Metro: Perry County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 47514 stands out due to its unique demographic and economic characteristics. With only 1,377 residents, it has a very low rental population at 0.0%, indicating that nearly all residents own their homes. The median income for residents is a robust $163,438, significantly higher than the national average. Additionally, the median home value is impressively high at $244,740, reflecting a strong local housing market.
Despite these favorable conditions, the voucher economics in ZIP 47514 present a different picture. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $960. However, there is currently no available market data for this ZIP code, suggesting a lack of rental properties participating in the Section 8 program. This absence of rental units could be due to several factors, including the high median income levels and the preference for homeownership among residents.
Given the data signature of ZIP 47514, the overall trend can be described as "stable." The high median income and home values indicate a prosperous community with little need for rental assistance programs. The complete absence of renters further supports this stability, as it suggests a mature housing market where most residents have already achieved homeownership. Landlords and small-portfolio investors should consider these factors when deciding whether to participate in the Section 8 program in this area, as the demand for subsidized rentals appears to be minimal.
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.