Location: Evansville, IN | Metro: Evansville, IN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
The ZIP code 47629, located in Evansville, IN MSA metro, can serve as a cash-flow anchor within a Section 8 portfolio strategy. This designation is based on the Federal Market Rent (FMR) for FY 2024, which stands at $1,190. Since the market data for median home value and market rent are currently unavailable, the FMR provides a reliable benchmark for assessing rental income potential.
In a Section 8 portfolio, properties that generate consistent and predictable cash flow are essential. ZIP 47629 fulfills this criterion due to the guaranteed rental assistance payments through the Section 8 program. Landlords can rely on these payments to cover operating costs and provide a steady stream of income, making it a secure investment within their portfolio.
Despite the lack of specific appreciation metrics such as price-cut share and days on market (DOM), the consistent demand for affordable housing in this area ensures a stable tenant base. The absence of precise data on median income and renter share does not detract from the cash-flow anchor role, as the primary focus remains on the guaranteed rental income.
To summarize, ZIP 47629 is best suited as a cash-flow anchor in a Section 8 portfolio, offering landlords a reliable source of income through the fixed FMR of $1,190 per month for FY 2024. This makes it an ideal choice for those looking to stabilize their investment returns amidst uncertain market conditions.
Data Sources: FMR data from HUD (2027).
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.