Location: Daviess County, IN | Metro: Daviess 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 | $1,240 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $124,327 | 0.81% | C |
U.S. Census Bureau data (2024)
The ZIP code 47568 in Indiana presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern due to the difference between the market rent at $824 and the Fair Market Rent (FMR) at $960 for FY 2026 in the metro area. This gap can lead to higher turnover rates as tenants may struggle to afford the required rent increase when their vouchers do not cover the full amount.
Vacancy exposure is another issue. The days on market (DOM) data is not available, which makes it difficult to predict how long a property might remain vacant between tenants. In areas with high turnover, extended vacancy periods can significantly impact cash flow and profitability.
Deferred maintenance is also a risk factor. With a typical home value of $173,323 and a median income of $53,125, homeowners may delay necessary repairs and improvements due to financial constraints. This can affect the quality of rental properties and increase the workload for landlords who must manage these issues to comply with housing standards.
Despite these risks, there are factors that mitigate the challenges. The renter share in ZIP 47568 is 32.0%, indicating a relatively high concentration of renters. High renter density typically translates into greater demand for rental properties, including those accepting Section 8 vouchers. This demand can help stabilize occupancy rates and reduce the likelihood of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.