Location: Crawford County, IN | Metro: Louisville, 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 | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $186,064 | 0.57% | F |
| 3BR | $1,350 | $268,821 | 0.5% | F |
| 4BR | $1,560 | $376,838 | 0.41% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP 47112, Corydon, IN, must be carefully considered. Tenant turnover could be higher due to the significant gap between the market rent of $812 and the Fair Market Rent (FMR) of $1120 for fiscal year 2024. This disparity may lead to tenants seeking better rental options, increasing the likelihood of frequent turnovers.
Vacancy exposure is another concern. The average days on market (DOM) for properties in this area is not available, which makes it difficult to predict how long a property might remain vacant between tenants. High vacancy rates can negatively impact cash flow and profitability.
Deferred maintenance is also a critical issue. With a typical home value of $268,724 and a median income of $70,903, homeowners may struggle to keep up with necessary repairs and improvements, leading to potential code violations and safety hazards that could affect the desirability of the property for tenants.
However, these risks are offset by the high renter share in the area, which stands at 20.8%. A large proportion of renters often indicates a robust demand for housing vouchers, such as those provided through the Section 8 program. This demand can help ensure steady occupancy and a reliable source of income for landlords willing to participate in the program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.