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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $144,322 | 0.83% | C |
| 3BR | $1,510 | $231,152 | 0.65% | D |
U.S. Census Bureau data (2024)
ZIP code 47649 encompasses a tranquil slice of rural America known as Francisco, IN. With a modest population of 1,313 residents, it stands out as a community where homeownership is the norm, with only 16.4% of the populace renting their homes. The median household income here is $63,060, reflecting a stable economic environment. However, the median home value at $196,503 suggests that property ownership is still within reach for many families.
The rental market in Francisco, IN is notably different from the broader metropolitan area. According to the Census Bureau's American Community Survey (ACS), the average market rent is $736. In stark contrast, the Fair Market Rent (FMR) for the metro area, set for fiscal year 2026, is $1,130. This significant gap between the FMR and the actual market rent indicates a potential opportunity for investors looking to capitalize on government-subsidized housing programs.
Given these dynamics, ZIP 47649 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For those inclined towards a passive investment strategy, the lower market rents align well with the Section 8 program's reimbursement rates, ensuring steady cash flow without the need for extensive property management. On the other hand, value-add investors can find opportunities to improve properties and potentially increase rents closer to the FMR, leveraging the discrepancy to their advantage. Whether you're looking to add stability to your portfolio or seeking growth through active management, Francisco, IN presents a compelling case for Section 8 investments.
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.