Location: White County, IN | Metro: White 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 | $840 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $206,163 | 0.65% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 47980 operate under specific financial guidelines that affect both landlords and tenants. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $960 per month for fiscal year 2026. This figure is crucial because it represents the maximum amount that the housing authority will pay towards a tenant's rent. However, the local market rent for a similar two-bedroom unit is slightly lower, running at $886 according to Census ACS data.
To understand how a voucher works in practice, consider the components involved in the total payment. A voucher payment consists of the tenant's portion plus any utility allowances. Typically, the tenant is responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500 for a tenant in ZIP 47980, the tenant would contribute approximately $450 towards rent ($1,500 x 0.30).
The utility allowance varies but can be estimated around $200 per month for a two-bedroom unit. Thus, the total reimbursement a landlord might receive from a voucher would be the sum of the tenant's contribution and the utility allowance, which equals $650 ($450 + $200). This leaves the housing authority to cover the remaining $310 of the SAFMR ($960 - $650).
Note that the SAFMR is specifically set for ZIP 47980, meaning that the rate applies only to this particular ZIP code and not uniformly across a larger metro or county area. This specificity ensures that the reimbursement rates reflect the actual rental costs within the ZIP code, providing a more accurate subsidy level.
In summary, for a two-bedroom rental unit in ZIP 47980, the typical reimbursement gap or surplus is calculated by comparing the SAFMR of $960 with the local market rent of $886. Since the SAFMR is higher than the market rent, landlords using Section 8 vouchers in this ZIP code can expect a surplus of $74 per month ($960 - $886). This surplus provides additional financial security for landlords, ensuring they receive a rate closer to the SAFMR rather than the lower market rent.
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.