Location: Putnam County, IN | Metro: Parke County, IN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $780 | $185,457 | 0.42% | F |
| 2BR | $1,010 | $179,292 | 0.56% | F |
| 3BR | $1,340 | $254,248 | 0.53% | F |
| 4BR | $1,480 | $308,641 | 0.48% | F |
U.S. Census Bureau data (2024)
ZIP code 47872, located in Rockville, Indiana, stands out within Parke County due to its unique demographic and economic characteristics. With a population of 8,557 residents, it has a relatively low rental rate at 20.1%, indicating that most of its inhabitants own their homes. The median income in this area is $70,781, which is above the national average, suggesting a middle-class community. Additionally, the median home value is $229,218, reflecting a stable housing market where property values have remained consistent.
Moving to the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 47872 in fiscal year 2024 is set at $920 per month. This figure is notably higher than the current market rent, which stands at $695 according to the Census Bureau's American Community Survey. This discrepancy indicates that landlords participating in the Section 8 program can expect to receive higher rents compared to the local market rates. The higher FMR also suggests that the government is recognizing the cost of living in this area and providing adequate compensation to landlords.
The data signature for ZIP 47872 reads as stable. The high median income and median home value suggest a community that is financially secure and unlikely to experience significant fluctuations in the near future. Furthermore, the fact that only 20.1% of the population is renting points towards a strong homeownership culture, which typically correlates with stability in both the housing market and the overall economy. For landlords and small-portfolio investors, this means that while the rental market might be smaller, the Section 8 program provides a reliable source of income through its higher FMR rates, ensuring steady cash flow and minimal risk of vacancy.
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.