Skip to main content
Loading page
Floyd County/Greenville/47124

47124

ZIPSAFMR
Floyd County, IN
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,030$1,030
1 BR$1,110$1,110
2 BR$1,340$1,340
3 BR$1,710$1,710
4 BR$1,970$1,970
5 BR$2,266Not available
6 BR$2,605Not available
7 BR$2,996Not available
8 BR$3,446Not available

Purchase Price Calculator

Maximum purchase price
$137,207

Cost breakdown

+Likely effective rent$1,340
HUD FMRUsed$1,340
Market rentN/A
Est. payment standardN/A
-Principal and interest-$694
Loan amount$109,766
Down payment$27,441
Rate6.50%
Term30 years
-Operating costs-$446
Property taxes-$137
Insurance-$175
Utilities$0
HOA$0
Management-$134
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,683(79.0% ROI)
Projected value
$147,757
Return breakdown
Property appreciation+$10,550
Loan principal paid down+$3,933
Rental cash flow+$7,200
5-year hold
+$37,043(135.0% ROI)
Projected value
$155,237
Return breakdown
Property appreciation+$18,030
Loan principal paid down+$7,013
Rental cash flow+$12,000
10-year hold
+$79,140(288.4% ROI)
Projected value
$175,637
Return breakdown
Property appreciation+$38,430
Loan principal paid down+$16,711
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47124 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47124 (Greenville, IN) is $1,340 a month. That is down 2.9% from $1,380 in FY 2026. Greenville 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 12 ZIP codes in Floyd County, 47124 has the 2nd-highest two-bedroom rent (county range $1,010–$1,470). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47124 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47124
BedroomsFY 2027Change90–110% range
Studio$1,030−1.9%$927–$1,133
1BR$1,110−2.6%$999–$1,221
2BR$1,340−2.9%$1,206–$1,474
3BR$1,710−2.8%$1,539–$1,881
4BR$1,970−3.9%$1,773–$2,167

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47124
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,030$1,110$1,340$1,710$1,970
FY 2026$1,050$1,140$1,380$1,760$2,050
FY 2025$1,060$1,150$1,400$1,800$2,090
FY 2024$980$1,080$1,310$1,710$1,970
FY 2023$720$820$980$1,300$1,490

Two-bedroom rent in nearby Floyd County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47124
47106$1,050−21.6%
47117$1,010−24.6%
47119$1,470+9.7%
47122$1,110−17.2%
47124Current$1,340—
47136$1,120−16.4%
47146$1,190−11.2%
47150$1,250−6.7%
47151$1,190−11.2%
47164$1,010−24.6%
47165$1,070−20.1%
47172$1,310−2.2%

Questions about ZIP 47124 rents

How much will Section 8 pay for a two-bedroom in ZIP 47124?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,340, that basic range is $1,206 to $1,474 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 47124 in?

ZIP 47124 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 47124 for FY 2027?

The two-bedroom FMR fell 2.9%, from $1,380 in FY 2026 to $1,340 in FY 2027. Since FY 2023 it has risen 36.7%.

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