Location: Switzerland County, IN | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
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 | $890 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $259,167 | 0.47% | F |
| 3BR | $1,600 | $329,590 | 0.49% | F |
| 4BR | $1,760 | $382,139 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 47018, located in Dillsboro, Indiana, stands out within Dearborn County due to its unique data signature. With a population of 4,166 residents, it has a relatively low rental rate of 19.5%, indicating that most of the residents own their homes. The median income for the area is $61,085, which is above the national average, suggesting a financially stable community. The median home value in this ZIP is $306,782, further reinforcing the notion that it is a desirable place to live.
Moving onto the voucher economics, the Fair Market Rent (FMR) for ZIP 47018 is set at $1,110 for fiscal year 2024. This figure is notably higher than the market rent of $954 reported by the Census Bureau's American Community Survey (ACS). This discrepancy can be advantageous for landlords participating in the Section 8 program, as they receive a higher rental rate than the typical market conditions would offer. It means that landlords can maintain or even slightly increase their rents while still being covered by the voucher program, providing a financial cushion against market fluctuations.
Based on the data signature of ZIP 47018, it reads as a stable area. The high median home value and above-average median income indicate a community where residents have the financial means to sustain property values. Additionally, the low rental rate suggests a preference for homeownership among the local population, which often correlates with long-term stability and investment in housing. For small-portfolio investors and landlords, this ZIP code offers a secure environment for real estate investments, particularly those involving the Section 8 program, given the favorable voucher economics that support higher rental incomes.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.