Location: Adams County, IN | Metro: Adams County, IN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $950 | $406,715 | 0.23% | F |
| 2BR | $1,030 | $199,922 | 0.52% | F |
| 3BR | $1,300 | $234,094 | 0.56% | F |
| 4BR | $1,430 | $271,686 | 0.53% | F |
| 5BR | $1,659 | $486,304 | 0.34% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord investing in ZIP code 46711 in Berne, Indiana, must be carefully considered. First, tenant turnover is a significant issue. The market rent stands at $843, which is notably lower than the Fair Market Rent (FMR) of $970 for the metro area. This disparity suggests that tenants may seek higher-rent properties outside the ZIP code, leading to increased turnover rates.
Vacancy exposure is another concern. While the average number of days on the market (DOM) is not available, the lack of data indicates unpredictability. High turnover can exacerbate this problem, making it difficult to maintain consistent rental income.
Deferred maintenance is also a risk factor. With a typical home value of $250,167 and a median income of $70,656, residents might struggle to afford timely repairs and upkeep. This financial strain could translate into properties requiring more attention and investment from the landlord to remain habitable and attractive to tenants.
However, these risks are offset by the high concentration of renters in the area. The renter share is 24.6%, indicating a substantial demand for rental housing. This high density often correlates with greater interest in Section 8 vouchers, which can provide a steady stream of reliable tenants.
In conclusion, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance are present but manageable given the strong demand for rentals. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 46711 is moderate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.