Location: Pike County, IN | Metro: Pike 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 | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $127,020 | 0.8% | D |
| 3BR | $1,410 | $204,329 | 0.69% | D |
| 4BR | $1,440 | $256,070 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 47567, which includes Petersburg, Indiana, is set at $960 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers and does not necessarily reflect the amount you can charge for rent. Instead, it is the maximum amount that a voucher will cover, ensuring that your property meets the criteria for being considered affordable under the program.
In comparison, the average rent for the area is listed at $739 according to the Census Bureau's American Community Survey. This suggests that the FMR is higher than the typical rent in the area, potentially offering a better deal for landlords who participate in the Section 8 program.
The 14.1% share of renters in the area indicates a moderate demand for rental properties. While this percentage might seem low, it still translates into a significant number of potential tenants who could benefit from Section 8 vouchers. The presence of the program can help ensure a steady stream of qualified applicants, even if the overall rental market isn't highly competitive.
If you're looking to acquire a property in this area, the median home value is around $165,416. This price point should be considered when evaluating whether the Section 8 program fits into your investment strategy. The lower acquisition costs combined with the guaranteed rental income can make this a viable option for first-time Section 8 landlords.
Before proceeding, verify that your property meets all the necessary quality and safety standards required by the Section 8 program. This includes passing an inspection that checks for issues such as lead paint, mold, and structural integrity. Ensuring compliance with these requirements will prevent any delays in securing a tenant and receiving payments.
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.