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Pulaski County/Francesville/47946

47946

ZIPSAFMR
Pulaski County, IN
Zillow

ZIP Investment Score

125Above average

095130300
BRFMR
Eff. Rent
0 BR$1,110$1,110
1 BR$1,290$1,290
2 BR$1,480$1,480
3 BR$2,040$2,040
4 BR$2,440$2,440
5 BR$2,806Not available
6 BR$3,227Not available
7 BR$3,711Not available
8 BR$4,268Not available

Purchase Price Calculator

Maximum purchase price
$158,011

Cost breakdown

+Likely effective rent$1,480
HUD FMRUsed$1,480
Market rentN/A
Est. payment standardN/A
-Principal and interest-$799
Loan amount$126,409
Down payment$31,602
Rate6.50%
Term30 years
-Operating costs-$481
Property taxes-$158
Insurance-$175
Utilities$0
HOA$0
Management-$148
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,878(75.6% ROI)
Projected value
$170,160
Return breakdown
Property appreciation+$12,150
Loan principal paid down+$4,529
Rental cash flow+$7,200
5-year hold
+$40,840(129.2% ROI)
Projected value
$178,775
Return breakdown
Property appreciation+$20,764
Loan principal paid down+$8,076
Rental cash flow+$12,000
10-year hold
+$87,501(276.9% ROI)
Projected value
$202,267
Return breakdown
Property appreciation+$44,256
Loan principal paid down+$19,244
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 47946 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47946 (Francesville, IN) is $1,480 a month. That is up 8.0% from $1,370 in FY 2026. Francesville is in the Pulaski 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 $1,014. Among 15 ZIP codes in Pulaski County, 47946 has the highest two-bedroom rent (county range $1,010–$1,480). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47946 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47946
BedroomsFY 2027Change90–110% range
Studio$1,110+12.1%$999–$1,221
1BR$1,290+5.7%$1,161–$1,419
2BR$1,480+8.0%$1,332–$1,628
3BR$2,040+7.9%$1,836–$2,244
4BR$2,440+9.4%$2,196–$2,684

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47946
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,110$1,290$1,480$2,040$2,440
FY 2026$990$1,220$1,370$1,890$2,230
FY 2025$860$1,070$1,210$1,670$1,990
FY 2024$910$910$1,200$1,560$1,600
FY 2023$680$680$900$1,160$1,210

Two-bedroom rent in nearby Pulaski County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47946
46511$1,050−29.1%
46939$1,010−31.8%
46960$1,010−31.8%
46968$1,010−31.8%
46975$1,030−30.4%
46978$1,050−29.1%
46985$1,090−26.4%
46996$1,010−31.8%
47946Current$1,480—
47957$1,240−16.2%
47959$1,180−20.3%
47960$1,110−25.0%

Questions about ZIP 47946 rents

How much will Section 8 pay for a two-bedroom in ZIP 47946?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,480 it would be $1,332 to $1,628. 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 47946 in?

ZIP 47946 is in the Pulaski County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 47946 for FY 2027?

The two-bedroom FMR rose 8.0%, from $1,370 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 64.4%.

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