Location: Warren County, IN | Metro: Warren County, IN HUD Metro FMR Area
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 | $800 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $150,386 | 0.72% | D |
| 3BR | $1,410 | $225,100 | 0.63% | D |
| 4BR | $1,420 | $293,948 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 47993, Williamsport, IN, is home to a population of 3,516 individuals. With 18.6% of residents being renters, this indicates a smaller rental market compared to many other areas. The median household income stands at $72,455, which provides a baseline for understanding the economic context of potential tenants.
The typical market rent in this area is $889 per month, representing approximately 12.8% of the median household income. This percentage suggests that rent is relatively affordable for most households, even though it consumes a significant portion of their earnings. The Fair Market Rent (FMR) for the fiscal year 2024 is slightly lower at $860, indicating that the market rent is above the FMR but only marginally so. Landlords can expect a steady demand for rental properties, especially those that qualify for housing vouchers under the Section 8 program.
In terms of the tenant profile, landlords in Williamsport, IN, should anticipate a mix of low-income families and individuals who rely on Section 8 vouchers to afford housing. These tenants will likely be sensitive to price changes and seek out properties that offer good value for their monthly subsidy. Given the median income and the proportion of renters, the demand for voucher-assisted rentals is moderate but present. Landlords should ensure their properties meet the necessary standards for Section 8 eligibility to attract these tenants effectively.
To summarize, while ZIP 47993 is not dominated by renters, there is a notable segment of the population that relies on housing assistance programs such as Section 8. The affordability of rent relative to income makes it a viable option for tenants seeking subsidized housing. Landlords should prepare for a tenant base that requires careful management and adherence to program guidelines to maintain a stable occupancy rate.
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.