Location: Gibson County, 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 | $780 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $163,094 | 0.62% | D |
| 3BR | $1,250 | $226,118 | 0.55% | F |
| 4BR | $1,390 | $269,218 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 47633, located in Posey County, Indiana, is home to 2,602 residents, with 14.1% of them renting their homes. The median income in this area stands at $68,971, while the median home value is significantly higher at $214,116. This ZIP code distinguishes itself through a relatively low rental rate compared to the high median home value, indicating that homeownership is prevalent among its residents.
From a Section 8 voucher perspective, the Fair Market Rent (FMR) for ZIP 47633 in fiscal year 2024 is set at $950 per month. In contrast, the market rent, as reported by the Census Bureau's American Community Survey, is $732 per month. This discrepancy suggests that landlords participating in the Section 8 program can expect to receive higher rents than the typical market rate, making it an attractive option for those looking to stabilize their rental income. However, it also implies that the demand for affordable housing might be lower due to the higher FMR compared to actual market conditions.
Based on the available data, ZIP 47633 appears to be a stable community, with a solid median income and a significant number of homeowners. The gap between the FMR and the actual market rent indicates a potential for steady, above-market returns for landlords who accept Section 8 vouchers. This stability, combined with the economic benefits of the voucher program, presents a favorable environment for small-portfolio investors looking to enter or expand in the Poseyville rental market.
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.