Location: Crawford County, IN | Metro: Crawford County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 47174 provides insight into potential investment opportunities for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a two-bedroom apartment in this area, as determined by the federal government for fiscal year 2026, is set at $960 per month. This figure is based on the metro average and serves as a guideline for rental assistance payments.
Given that the median home value and the market rent are not available for ZIP 47174, we can only work with the FMR to derive an implied gross yield. Assuming a home value of $200,000 as a hypothetical benchmark, the annualized FMR would be $11,520 ($960 x 12 months). The implied gross yield using the FMR would then be 5.76% ($11,520 / $200,000).
In the absence of market rent data, it's challenging to provide a direct comparison. However, if we were to assume that market rents align closely with FMRs, the gross yield would remain similar. Yet, typically, market rents exceed FMRs, suggesting a higher gross yield could be possible under normal conditions.
The renter density in ZIP 47174 stands at 0.0%, indicating a very low proportion of residents who rely on rental assistance programs like Section 8. This statistic implies that demand for Section 8 properties might be limited, affecting the realism of the FMR-based gross yield scenario.
Additionally, the Days on Market (DOM) data is not available, which is crucial for understanding how quickly properties are rented out and the associated vacancy rates. Without this information, assessing the liquidity and operational efficiency of investments in this ZIP code remains speculative.
To summarize, the implied gross yield based on the FMR is 5.76%. While this provides a baseline, the lack of market rent data and the low renter density suggest that achieving such yields might be difficult. Landlords and investors should consider these factors carefully when evaluating potential investments in ZIP 47174.
Data Sources: FMR data from HUD (2027). 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.