Location: Dubois County, IN | Metro: Dubois 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 | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,550 | $310,892 | 0.5% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 47521 in fiscal year 2026 is set at $1,010. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning it's the maximum amount that the Housing Choice Voucher program will pay on behalf of a tenant. It's important to note that this is not the rent you'll charge your tenants; rather, it's the benchmark used by the government to determine how much they'll contribute toward your rental income.
To put this into perspective, the local median rent for similar properties is listed as N/A. However, the lack of specific local rent data does not diminish the importance of understanding the FMR. The FMR is a critical guideline for landlords who wish to participate in the Section 8 program because it sets the ceiling for government payments.
The 0.0% renter share indicates that there is currently no data available regarding the percentage of renters in ZIP 47521 who rely on Section 8 vouchers. This could mean either low demand or that the data isn't accurately captured. Regardless, it's essential to understand that the Section 8 program can provide a stable source of income for landlords, as tenants' rents are subsidized by the government, reducing the risk of unpaid rent.
If you're looking to acquire a property in ZIP 47521 for a Section 8 rental, the average home price is $296,185. This figure gives you an idea of the capital investment required to enter the market. Given the FMR and the potential stability of Section 8 tenants, this could be a worthwhile investment if you're seeking consistent cash flow.
Before committing to a Section 8 rental in ZIP 47521, ensure you verify the condition of the property against the HUD's Housing Quality Standards (HQS). These standards specify the minimum requirements that a property must meet to qualify for the program. Ensuring compliance with these standards upfront can save you time and money in the long run, as non-compliance can lead to reduced payments or termination of the lease agreement.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.