Location: Montgomery County, IN | Metro: Montgomery County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 47965 stands out with a population of only 490 residents, where 17.2% of them rent their homes. The median household income here is $76,607, while the median home value reaches $170,802. These figures indicate a relatively affluent area with a low density of renters.
Moving into the voucher economics, the Fair Market Rent (FMR) for ZIP 47965 is set at $1,070 for fiscal year 2026, which contrasts with the current market rent of $931 as reported by the Census Bureau's American Community Survey. This discrepancy suggests that landlords participating in the Section 8 program can expect to receive higher rental payments compared to the local market rates.
The data signature for ZIP 47965 reads as stable. With a modest percentage of renters and a high median income, the area shows little sign of significant change in the near future. Landlords can anticipate steady demand for their properties, particularly those willing to accept Section 8 vouchers, given the higher subsidy rate compared to the actual market rents.
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.