Location: Evansville, IN | Metro: Evansville, IN MSA
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 | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $155,641 | 0.69% | D |
| 3BR | $1,320 | $221,682 | 0.6% | F |
| 4BR | $1,460 | $285,384 | 0.51% | F |
U.S. Census Bureau data (2024)
The investment landscape in ZIP 47610 in Chandler, IN, presents several challenges for landlords and small-portfolio investors considering Section 8 properties. Firstly, tenant turnover is a significant risk due to the disparity between the market rent of $1,003 and the Fair Market Rent (FMR) of $1,140 for fiscal year 2024. This gap suggests that tenants may struggle to afford higher rents outside of the subsidized program, leading to frequent moves and higher vacancy rates.
Vacancy exposure is another concern. With the days on market (DOM) being listed as N/A, it's unclear how long properties typically remain vacant before finding a tenant. However, the typical home value of $213,642 and median income of $78,259 indicate a potential mismatch between housing costs and residents' ability to pay, which can exacerbate vacancy issues.
Deferred maintenance is also a risk factor. The typical home value is relatively high compared to the median income, suggesting that property upkeep might be neglected if owners are unable to afford regular maintenance. This can lead to costly repairs and lower property values over time, impacting the overall investment performance.
Despite these risks, there are factors that mitigate the downside. The renter share in Chandler, IN, is 11.6%, which is higher than many other areas. A high concentration of renters often translates into greater demand for rental units, including those that accept Section 8 vouchers. This increased demand can help stabilize occupancy rates and provide a steady stream of tenants.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 47610 is moderate.
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.