Location: Perry County, IN | Metro: Crawford County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 47576 for Section 8 purposes, follow this decision tree:
1) Does FMR $960 (metro FY 2026) clear debt service on a $226,491 property?
No. The Fair Market Rent (FMR) of $960 does not cover the debt service on a property valued at $226,491. Debt service includes principal and interest payments, property taxes, insurance, and maintenance costs. With an average FMR of $960, the rental income would likely be insufficient to meet these obligations.
2) Is market rent above, at, or below FMR?
N/A. There is no available data to compare the market rent against the FMR of $960. This lack of information makes it impossible to assess whether the market conditions favor higher rents that could potentially supplement the shortfall in FMR.
3) Are 0.0% renters and N/A-day days on market (DOM) enough demand?
No. The absence of renters (0.0%) indicates a severe lack of demand for rental properties in this area. Additionally, the days on market being listed as N/A suggests incomplete or unreliable data regarding the time properties remain unsold or unrented. These factors combined point to a weak rental market, making it challenging to find tenants willing to pay the required rent, let alone those participating in the Section 8 program.
In conclusion, based on the provided data, purchasing a property in ZIP code 47576 for Section 8 purposes is not advisable. The FMR does not sufficiently cover the debt service on a property priced at $226,491, and there is a notable lack of rental demand. Without further market analysis, particularly concerning the actual market rent and days on market, the risks outweigh the potential benefits for landlords and small-portfolio investors.
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.