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Clark County/Charlestown/47111

47111

ZIPSAFMR
Clark County, IN
Zillow

ZIP Investment Score

107Above average

095130300
BRFMR
Eff. Rent
0 BR$880$970
1 BR$950$1,050
2 BR$1,150$1,270
3 BR$1,470$1,620
4 BR$1,690$1,860
5 BR$1,943Not available
6 BR$2,235Not available
7 BR$2,570Not available
8 BR$2,956Not available

Purchase Price Calculator

Maximum purchase price
$126,805

Cost breakdown

+Likely effective rent$1,270
HUD FMR$1,150
Market rent$1,560
Est. payment standard (110%)Used$1,270
-Principal and interest-$641
Loan amount$101,444
Down payment$25,361
Rate6.50%
Term30 years
-Operating costs-$429
Property taxes-$127
Insurance-$175
Utilities$0
HOA$0
Management-$127
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,585(81.2% ROI)
Projected value
$136,555
Return breakdown
Property appreciation+$9,750
Loan principal paid down+$3,634
Rental cash flow+$7,200
5-year hold
+$35,144(138.6% ROI)
Projected value
$143,468
Return breakdown
Property appreciation+$16,663
Loan principal paid down+$6,481
Rental cash flow+$12,000
10-year hold
+$74,960(295.6% ROI)
Projected value
$162,321
Return breakdown
Property appreciation+$35,516
Loan principal paid down+$15,444
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.66
1 BR
0.74
2 BR
0.74
3 BR
0.75
4 BR
0.79
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47111 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47111 (Charlestown, IN) is $1,150 a month. That is up 1.8% from $1,130 in FY 2026. Charlestown is in the Louisville, KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 20 ZIP codes in Clark County, 47111 is tied for the 14th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47111 is 6% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47111
BedroomsFY 2027Change90–110% range
Studio$880+2.3%$792–$968
1BR$950+2.2%$855–$1,045
2BR$1,150+1.8%$1,035–$1,265
3BR$1,470+2.1%$1,323–$1,617
4BR$1,690+0.6%$1,521–$1,859

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47111
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$880$950$1,150$1,470$1,690
FY 2026$860$930$1,130$1,440$1,680
FY 2025$910$990$1,200$1,550$1,790
FY 2024$900$990$1,200$1,570$1,800
FY 2023$720$810$970$1,290$1,480

Two-bedroom rent in nearby Clark County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47111
47104$1,1500.0%
47106$1,050−8.7%
47111Current$1,150—
47119$1,470+27.8%
47126$1,010−12.2%
47129$1,210+5.2%
47130$1,340+16.5%
47131$1,250+8.7%
47138$1,510+31.3%
47141$1,160+0.9%
47143$1,910+66.1%
47147$1,170+1.7%

Questions about ZIP 47111 rents

How much will Section 8 pay for a two-bedroom in ZIP 47111?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,150, that basic range is $1,035 to $1,265 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 47111 in?

ZIP 47111 is in the Louisville, KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 47111 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,130 in FY 2026 to $1,150 in FY 2027. Since FY 2023 it has risen 18.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentCharlestown, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources