Location: Gibson County, IN | Metro: Gibson 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 | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $177,535 | 0.63% | D |
| 3BR | $1,410 | $250,925 | 0.56% | F |
| 4BR | $1,580 | $312,497 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP code 47648, located in Fort Branch, IN within the Gibson County metro area, presents a unique snapshot when compared to other ZIP codes in the region. The Fair Market Rent (FMR) for 47648 stands at $990 for fiscal year 2026, which is above the average market rent of $882. This indicates that the rental market in 47648 is slightly more expensive than what the general market suggests, potentially reflecting higher demand or perceived quality.
The median home value in 47648 is $230,977, which is a key figure for understanding the overall housing costs in the area. If this figure is below the typical home values in other ZIP codes within Gibson County, it could suggest that 47648 is a more affordable area for homeownership, possibly making it attractive for first-time buyers or those looking for lower-cost housing options.
The renter share in 47648 is 25.2%, indicating a significant portion of the population rents their homes. This percentage is notable because it aligns with the observation that areas with a high proportion of renters often have a greater presence of government-assisted housing programs, such as Section 8. When combined with the relatively lower home values compared to the metro average, this could imply that 47648 is a sweet spot for landlords and small-portfolio investors interested in Section 8 tenants, as it offers a balance between manageable property acquisition costs and a robust rental market.
To determine if 47648 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Gibson County metro, we must consider the interplay between its FMR, market rent, and home values. Given the FMR exceeds the market rent and the home values are below the metro average, it's reasonable to conclude that 47648 is a value pocket. This designation is further supported by the substantial renter share, which often correlates with a higher concentration of Section 8 vouchers and a more stable tenant base.
Investors should be aware of the specific dynamics at play in 47648. The higher FMR relative to market rent might indicate an opportunity to charge slightly above the local market rate without exceeding the affordability threshold for many low-income families. This could translate into better cash flow for landlords who participate in Section 8 or similar subsidized housing programs.
In summary, ZIP 47648 in Fort Branch, IN, appears to be a value pocket within the Gibson County metro, offering a blend of lower home values and a significant renter share, which can be particularly advantageous for landlords and small-portfolio investors involved in Section 8 properties.
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.