Location: Switzerland County, IN | Metro: Jefferson 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 | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $191,251 | 0.53% | F |
| 3BR | $1,230 | $251,827 | 0.49% | F |
| 4BR | $1,380 | $318,193 | 0.43% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP code 47043 in Vevay, IN, are significant and must be carefully considered before investing. One major concern is tenant turnover, which can be higher when the market rent is $676 compared to the Federal Market Rent (FMR) of $960 for the fiscal year 2026 in the metro area. This disparity suggests that tenants might find it easier to secure housing elsewhere, leading to frequent changes in occupancy.
Vacancy exposure is another critical issue. The data does not provide the average number of days on the market (DOM), making it difficult to predict how long a property might remain vacant between tenants. Vacancies can lead to lost rental income, which is particularly problematic for Section 8 properties where the rent is already lower than market rates.
Deferred maintenance is also a risk. With a typical home value of $234,906 and a median household income of $75,123, there is a considerable gap between the cost of maintaining a property and the financial resources available to many residents. This economic reality may result in landlords having to cover more maintenance costs, potentially straining their budgets and reducing profitability.
However, these risks must be weighed against the strong demand for rental housing in the area. The renter share stands at 29.5%, indicating a high concentration of renters who may rely on Section 8 vouchers. High renter density often translates into greater demand for affordable housing options, which can stabilize occupancy rates and mitigate some of the risks associated with vacancies and turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 47043 is moderate. While there are notable challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the robust demand for rental housing provides a counterbalance that can help maintain steady occupancy and reduce overall financial risk.
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.