Location: Gibson County, IN | Metro: Gibson County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 47670, which includes Princeton, Indiana, is set at $1,010 per month for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, this is the maximum amount the Housing Authority will pay towards a tenant's rent. It does not reflect the actual rent you can charge.
In comparison, the average rent in ZIP 47670 is slightly higher at $1,018, according to recent Census American Community Survey data. This suggests that while the FMR is close to the market rate, it may be a bit lower, potentially affecting your income expectations when participating in the Section 8 program.
The demand for rentals in this area is strong, with 29.4% of households being renters. This indicates a significant portion of the population looking for affordable housing options, making it a viable market for Section 8 tenants.
If you're considering purchasing a property to use as a Section 8 rental, note that the median home value in ZIP 47670 is approximately $185,969. This figure can help you gauge the potential acquisition cost for a property suitable for this type of investment.
Before proceeding, verify that your property meets all the necessary quality and safety standards required by the Section 8 program. These inspections are rigorous and ensure that the units provide a safe living environment for tenants.
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.