Section 8 Fair Market Rent (FMR) for ZIP 47880 - 2027

Location: Terre Haute, IN | Metro: Terre Haute, IN HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$800
2 Bedrooms	$1,040
3 Bedrooms	$1,240
4 Bedrooms	$1,440
5 Bedrooms	$1,670
6 Bedrooms	$1,870
7 Bedrooms	$2,020
8 Bedrooms	$2,121

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 47880, located in Indiana, is a rural area that offers unique opportunities for real estate investment, particularly in the context of government assistance programs such as Section 8. This region is characterized by low population density and a strong emphasis on homeownership over renting.

The Fair Market Rent (FMR) for ZIP 47880 for fiscal year 2024 is set at $870. This figure represents the maximum amount that a landlord can charge for a Section 8 rental agreement, ensuring a stable but regulated income stream.
Data on market rents is currently unavailable for this specific ZIP code, which suggests that the rental market is either underdeveloped or overshadowed by the homeownership trend prevalent in the area.
The median home value in ZIP 47880 is also not available, indicating that the housing market here is less active compared to urban areas, and thus, less data is collected or reported.
Renters make up only 0.0% of the population in this ZIP code, highlighting the dominance of owner-occupied homes and the limited scope of the rental market.
The Days on Market (DOM) for properties in this area is not available, suggesting that sales and listings are infrequent, and the real estate market operates at a slower pace.
The median income for residents in ZIP 47880 is not available, which could be due to the small sample size typical of rural areas, making it challenging to assess the economic health and purchasing power of the local populace.

In summary, ZIP 47880 presents a niche opportunity for landlords and small-portfolio investors interested in Section 8 properties. The absence of significant market rent data and the dominance of homeownership indicate that this area is best suited for those who can work within the constraints of regulated rental income. With a Fair Market Rent of $870, the potential for steady, though not high-yield, returns exists. However, the lack of detailed economic and real estate metrics underscores the importance of thorough local research and understanding of the community's needs before investing.

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.