Location: Switzerland County, IN | Metro: Switzerland 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 | $780 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $271,472 | 0.48% | F |
U.S. Census Bureau data (2024)
ZIP code 47020, located in Switzerland County, IN metro, serves as an ideal appreciation play within a Section 8 portfolio strategy. Although the Federal Market Rent (FMR) for the area is set at $980 for fiscal year 2026, the lack of market data for comparison indicates that there is potential for property values to rise significantly.
The median home value in ZIP 47020 stands at $261,315, which provides a solid foundation for investment. However, the absence of recent price-cut shares and days on market (DOM) figures suggests that the housing market here is relatively stable and undisturbed by significant fluctuations or oversupply. This stability can be advantageous for long-term appreciation, as properties are less likely to experience sharp declines in value.
A key factor supporting the appreciation play strategy is the 25.0% renter share in the area. This indicates a moderate demand for rental properties, ensuring that landlords can maintain occupancy rates without having to heavily discount rents. The median income of $71,875 further supports this strategy, as it suggests that residents have the financial capacity to afford higher rents over time, contributing to the potential for increased rental income and property appreciation.
In conclusion, ZIP 47020 should be viewed as an appreciation play within a Section 8 portfolio strategy. The combination of a stable market, moderate renter share, and decent median income positions this area for gradual but steady growth in both rental rates and property values over the coming years.
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.