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Harrison County/New Salisbury/47161

47161

ZIPSAFMR
Harrison County, IN
Zillow

ZIP Investment Score

119Above average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,040
1 BR$1,140$1,140
2 BR$1,380$1,380
3 BR$1,780$1,780
4 BR$2,060$2,060
5 BR$2,369Not available
6 BR$2,724Not available
7 BR$3,133Not available
8 BR$3,603Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMRUsed$1,380
Market rentN/A
Est. payment standardN/A
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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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
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Tax rate
--
Mortgage rate
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ZIP 47161 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47161 (New Salisbury, IN) is $1,380 a month. That is down 9.8% from $1,530 in FY 2026. New Salisbury 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 18 ZIP codes in Harrison County, 47161 has the 2nd-highest two-bedroom rent (county range $1,010–$1,450). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47161 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47161
BedroomsFY 2027Change90–110% range
Studio$1,040−9.6%$936–$1,144
1BR$1,140−9.5%$1,026–$1,254
2BR$1,380−9.8%$1,242–$1,518
3BR$1,780−9.6%$1,602–$1,958
4BR$2,060−9.6%$1,854–$2,266

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47161
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,140$1,380$1,780$2,060
FY 2026$1,150$1,260$1,530$1,970$2,280
FY 2025$1,270$1,390$1,690$2,180$2,530
FY 2024$1,210$1,330$1,610$2,110$2,420
FY 2023$980$1,110$1,330$1,760$2,030

Two-bedroom rent in nearby Harrison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47161
47120$1,080−21.7%
47122$1,110−19.6%
47124$1,340−2.9%
47125$1,250−9.4%
47135$1,020−26.1%
47136$1,120−18.8%
47137$1,020−26.1%
47142$1,030−25.4%
47160$1,020−26.1%
47161Current$1,380—
47164$1,010−26.8%
47166$1,450+5.1%

Questions about ZIP 47161 rents

How much will Section 8 pay for a two-bedroom in ZIP 47161?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,380, that basic range is $1,242 to $1,518 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 47161 in?

ZIP 47161 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 47161 for FY 2027?

The two-bedroom FMR fell 9.8%, from $1,530 in FY 2026 to $1,380 in FY 2027. Since FY 2023 it has risen 3.8%.

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