Section 8 Fair Market Rent (FMR) for ZIP 47666 - 2027

Location: Pike County, IN | Metro: Gibson County, IN

Investment Score for ZIP 47666

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$152,642

1% Rule

0.66%

Annual Yield

7.94%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$780
2 Bedrooms	$1,010
3 Bedrooms	$1,290
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,010	$152,642	0.66%	D
3BR	$1,290	$202,779	0.64%	D
4BR	$1,440	$264,238	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,335

Median Household Income

$63,209

Housing Units

622

Renter Percentage

14.9%

Occupancy Rate

94.7%

Renter Occupied

Princeton, Indiana, located in the southeastern part of the state, is a growing area that benefits from its proximity to major cities such as Indianapolis and Louisville. This region offers a blend of rural charm and urban convenience, making it attractive for both homeowners and renters.

The Fair Market Rent (FMR) for a two-bedroom apartment in the Princeton metro area for fiscal year 2026 is set at $960.
The market rent for a similar unit, based on the latest Census American Community Survey (ACS) data, stands at $747.
The median home value in Princeton is $172,065, indicating affordability for potential homeowners and investors alike.
Renters make up 14.9% of the housing market, suggesting a moderate demand for rental properties.
The median household income in the area is $63,209, providing insight into the economic stability of residents and their ability to pay rent or mortgages.

Analyzing these points, investors can see that while the fair market rent suggests a higher potential rental rate, current market conditions reflect a lower actual rate. The median home value indicates a relatively affordable market, which could attract first-time buyers and investors looking for entry-level opportunities. With a moderate share of renters and a stable median income, there's a balanced opportunity for both rental and homeownership investments. However, the lack of data on days on market (DOM) limits a comprehensive understanding of how quickly properties sell or rent, which is crucial for timing investments effectively.

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.