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Bartholomew County/Columbus/47203

47203

ZIPSAFMR
Bartholomew County, IN
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$1,110$980
1 BR$1,140$1,160
2 BR$1,290$1,420
3 BR$1,540$1,570
4 BR$1,840$2,020
5 BR$2,116Not available
6 BR$2,433Not available
7 BR$2,798Not available
8 BR$3,218Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$1,620
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.13
1 BR
0.97
2 BR
0.80
3 BR
0.97
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47203 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47203 (Columbus, IN) is $1,290 a month. That is up 5.7% from $1,220 in FY 2026. Columbus is in the Columbus, IN MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,493. Among 17 ZIP codes in Bartholomew County, 47203 is tied for the 8th-highest two-bedroom rent (county range $1,080–$1,580). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47203 is 19% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47203
BedroomsFY 2027Change90–110% range
Studio$1,110+4.7%$999–$1,221
1BR$1,140+5.6%$1,026–$1,254
2BR$1,290+5.7%$1,161–$1,419
3BR$1,540+5.5%$1,386–$1,694
4BR$1,840+7.0%$1,656–$2,024

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47203
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,110$1,140$1,290$1,540$1,840
FY 2026$1,060$1,080$1,220$1,460$1,720
FY 2025$960$990$1,100$1,390$1,540
FY 2024$900$930$1,040$1,340$1,450
FY 2023$810$820$930$1,230$1,360

Two-bedroom rent in nearby Bartholomew County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47203
47201$1,560+20.9%
47202$1,490+15.5%
47203Current$1,290—
47226$1,280−0.8%
47232$1,280−0.8%
47234$1,410+9.3%
47236$1,280−0.8%
47240$1,120−13.2%
47244$1,510+17.1%
47246$1,400+8.5%
47247$1,280−0.8%
47273$1,300+0.8%

Questions about ZIP 47203 rents

How much will Section 8 pay for a two-bedroom in ZIP 47203?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,493, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,344 to $1,642 a month; under the ZIP-level Small Area FMR of $1,290 it would be $1,161 to $1,419. 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 47203 in?

ZIP 47203 is in the Columbus, IN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,493.

How much did fair market rent change in ZIP 47203 for FY 2027?

The two-bedroom FMR rose 5.7%, from $1,220 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 38.7%.

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