Location: Knox County, IN | Metro: Sullivan County, 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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $111,050 | 1.03% | B |
| 3BR | $1,500 | $152,390 | 0.98% | C |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $920 for ZIP 47528 in Edwardsport, IN, landlords can expect to align their rental properties with the federally set standards for the fiscal year 2024. The Census American Community Survey indicates a market rent of $950, suggesting that landlords can charge slightly above the FMR without alienating tenants. Given the median home value stands at $133,182, there's a clear indication of affordability for both homeowners and renters in the area. Renter share in Edwardsport is 12.5%, which means a significant portion of the population relies on rental housing, creating a steady demand for units. The median income of $57,692 supports the ability of residents to afford the current market rents, ensuring financial stability for landlords. Although the days on market (DOM) and the percentage of price-cut share are not available, the consistent alignment between the FMR and market rent suggests a stable rental market. The slight premium landlords can charge over the FMR also implies a potential for modest profit margins. However, the limited availability of detailed market performance metrics such as DOM and price-cut share indicates a need for further local market analysis to fully understand the dynamics. In conclusion, for landlords and small-portfolio investors, Edwardsport presents a balanced opportunity with a manageable tenant pool and reasonable market conditions.
Section 8 Verdict: Suitable for Section 8 participation given the close alignment between FMR and market rent, supported by a median income that comfortably covers the cost of living.
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.