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Warren County/State Line/47982

47982

ZIPSAFMR
Warren County, IN
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$780$730
1 BR$870$750
2 BR$1,050$830
3 BR$1,350$900
4 BR$1,510$950
5 BR$1,736Not available
6 BR$1,997Not available
7 BR$2,297Not available
8 BR$2,641Not available

Purchase Price Calculator

Maximum purchase price
$61,421

Cost breakdown

+Likely effective rent$830
HUD FMR$1,050
Market rentUsed$830
Est. payment standard (90%)$950
-Principal and interest-$311
Loan amount$49,137
Down payment$12,284
Rate6.50%
Term30 years
-Operating costs-$319
Property taxes-$61
Insurance-$175
Utilities$0
HOA$0
Management-$83
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$13,683(111.4% ROI)
Projected value
$66,144
Return breakdown
Property appreciation+$4,723
Loan principal paid down+$1,760
Rental cash flow+$7,200
5-year hold
+$23,211(188.9% ROI)
Projected value
$69,492
Return breakdown
Property appreciation+$8,071
Loan principal paid down+$3,139
Rental cash flow+$12,000
10-year hold
+$48,684(396.3% ROI)
Projected value
$78,624
Return breakdown
Property appreciation+$17,203
Loan principal paid down+$7,481
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.16
2 BR
1.27
3 BR
1.50
4 BR
1.59
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47982 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47982 (State Line, IN) is $1,050 a month. That is up 9.4% from $960 in FY 2026. State Line is in the Warren County, IN HUD Metro 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 metro-wide two-bedroom FMR of $1,014. Among 11 ZIP codes in Warren County, 47982 has the 9th-highest two-bedroom rent (county range $1,010–$1,350). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47982 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47982
BedroomsFY 2027Change90–110% range
Studio$780+13.0%$702–$858
1BR$870+3.6%$783–$957
2BR$1,050+9.4%$945–$1,155
3BR$1,350+1.5%$1,215–$1,485
4BR$1,510+9.4%$1,359–$1,661

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47982
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$780$870$1,050$1,350$1,510
FY 2026$690$840$960$1,330$1,380
FY 2025$660$820$930$1,300$1,470
FY 2024$630$740$860$1,220$1,470
FY 2023$680$690$910$1,290$1,550

Two-bedroom rent in nearby Warren County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47982
47906$1,350+28.6%
47917$1,120+6.7%
47918$1,120+6.7%
47921$1,120+6.7%
47932$1,010−3.8%
47944$1,120+6.7%
47970$1,120+6.7%
47975$1,120+6.7%
47982Current$1,050—
47991$1,010−3.8%
47993$1,080+2.9%

Questions about ZIP 47982 rents

How much will Section 8 pay for a two-bedroom in ZIP 47982?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-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 $1,050 it would be $945 to $1,155. 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 47982 in?

ZIP 47982 is in the Warren County, IN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 47982 for FY 2027?

The two-bedroom FMR rose 9.4%, from $960 in FY 2026 to $1,050 in FY 2027. Since FY 2023 it has risen 15.4%.

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