Location: Spencer County, IN | Metro: Spencer County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
ZIP 47531, located in Spencer County, Indiana, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. Given that the median home value in this ZIP code is $274,200, and there is no available market rent data, the FMR serves as a reliable benchmark for rental income.
The lack of market rent data suggests a stable local rental market, where Section 8 vouchers can ensure steady, predictable cash flow. This stability is crucial for landlords and small-portfolio investors looking to maintain consistent income streams regardless of economic fluctuations. The median home value, while not indicative of rental prices alone, does suggest a reasonable asset base for the properties in this area, which can be leveraged to secure financing if needed.
Furthermore, ZIP 47531's median income of $140,595 indicates a relatively affluent neighborhood. This higher income level supports the viability of Section 8 tenants who might require financial assistance for housing but still live in areas with better economic conditions. The 6.5% renter share suggests that most residents are homeowners, which could mean lower competition for rental properties and a greater likelihood of finding tenants who benefit from the program.
To conclude, ZIP 47531 should be considered as a cash-flow anchor due to its stable rental market, supported by the Section 8 program, and its reasonable median home value. This ZIP code offers a safe and predictable investment opportunity for those seeking to diversify their portfolios with a focus on long-term, consistent returns.
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.