Section 8 Fair Market Rent (FMR) for ZIP 47734 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 47734 in Evansville, Indiana, presents a unique set of characteristics that landlords and small-portfolio investors should consider. Despite the lack of specific data on the number of residents, the percentage of renters, median income, and median home value, the area's Federal Market Rent (FMR) for Section 8 vouchers provides valuable insight into the local rental market.

For fiscal year 2024, the FMR for ZIP 47734 is set at $1090. This figure serves as a benchmark for landlords participating in the Section 8 program, ensuring they receive a fair rent amount for their properties. While the exact market rent remains unspecified, the FMR can be used to gauge the general affordability of housing in the area.

Landlords in ZIP 47734 can expect stable demand for Section 8 units, as the program continues to support low-income families in securing affordable housing. The consistent FMR rate indicates a predictable revenue stream for those willing to participate in the program. However, the absence of detailed economic indicators suggests that the area might be experiencing transitional dynamics, which could affect both the rental market and the overall investment climate.

To summarize, ZIP 47734 offers a straightforward opportunity for landlords through its defined Section 8 FMR. With an FMR of $1090 for FY 2024, landlords can plan their budgets and investments accordingly. The data signature points towards a transitional phase, making it essential for investors to stay informed about any changes in the local economy that could impact housing demand and rental prices.

Data Sources: FMR data from HUD (2027).

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.