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

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

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). 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.