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Decatur County/Greensburg/47240

47240

ZIPSAFMR
Decatur County, IN
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$840$920
1 BR$860$950
2 BR$1,120$1,110
3 BR$1,340$1,170
4 BR$1,560$1,210
5 BR$1,794Not available
6 BR$2,063Not available
7 BR$2,373Not available
8 BR$2,728Not available

Purchase Price Calculator

Maximum purchase price
$103,029

Cost breakdown

+Likely effective rent$1,110
HUD FMR$1,120
Market rentUsed$1,110
Est. payment standard (99%)$1,110
-Principal and interest-$521
Loan amount$82,423
Down payment$20,606
Rate6.50%
Term30 years
-Operating costs-$389
Property taxes-$103
Insurance-$175
Utilities$0
HOA$0
Management-$111
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,075(87.7% ROI)
Projected value
$110,951
Return breakdown
Property appreciation+$7,922
Loan principal paid down+$2,953
Rental cash flow+$7,200
5-year hold
+$30,805(149.5% ROI)
Projected value
$116,568
Return breakdown
Property appreciation+$13,539
Loan principal paid down+$5,266
Rental cash flow+$12,000
10-year hold
+$65,405(317.4% ROI)
Projected value
$131,886
Return breakdown
Property appreciation+$28,857
Loan principal paid down+$12,548
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.83
2 BR
1.01
3 BR
1.15
4 BR
1.29
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47240 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47240 (Greensburg, IN) is $1,120 a month. That is up 1.8% from $1,100 in FY 2026. Greensburg is in the Decatur County, IN non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,112. Among 12 ZIP codes in Decatur County, 47240 has the 7th-highest two-bedroom rent (county range $1,010–$2,030). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47240 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47240
BedroomsFY 2027Change90–110% range
Studio$840+3.7%$756–$924
1BR$860−8.5%$774–$946
2BR$1,120+1.8%$1,008–$1,232
3BR$1,340−6.9%$1,206–$1,474
4BR$1,560−9.8%$1,404–$1,716

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47240
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$860$1,120$1,340$1,560
FY 2026$810$940$1,100$1,440$1,730
FY 2025$890$1,040$1,220$1,590$1,920
FY 2024$800$920$1,110$1,460$1,710
FY 2023$670$770$960$1,290$1,480

Two-bedroom rent in nearby Decatur County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47240
46156$1,010−9.8%
46173$1,040−7.1%
46182$2,030+81.3%
47006$1,110−0.9%
47225$1,070−4.5%
47240Current$1,120—
47244$1,510+34.8%
47246$1,400+25.0%
47263$1,560+39.3%
47265$1,030−8.0%
47272$1,180+5.4%
47283$1,280+14.3%

Questions about ZIP 47240 rents

How much will Section 8 pay for a two-bedroom in ZIP 47240?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,112, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,001 to $1,223 a month; under the ZIP-level Small Area FMR of $1,120 it would be $1,008 to $1,232. 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 47240 in?

ZIP 47240 is in the Decatur County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,112.

How much did fair market rent change in ZIP 47240 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,100 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 16.7%.

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