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 | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $840 | $85,582 | 0.98% | C |
| 2BR | $1,090 | $140,888 | 0.77% | D |
| 3BR | $1,340 | $249,430 | 0.54% | F |
| 4BR | $1,480 | $321,678 | 0.46% | F |
| 5BR | $1,717 | $378,764 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 47712 in Evansville, IN, offers a balanced mix of yield and stability for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for ZIP 47712 in fiscal year 2024 is set at $1,110, which is higher than the market rent of $1,000. This indicates that the area offers a slightly above-average rental yield compared to the broader market. Additionally, the median home value stands at $193,600, lower than the $205,049 figure provided, suggesting there might be opportunities for investment in properties that could be rented out at a profit.
On the stability axis, the ZIP code shows a 34.6% rate of renters, indicating a moderate demand for rental properties. The average days on market (DOM) is 15, which suggests a relatively quick turnover of properties. The median household income is $68,494, aligning closely with the $68,494 figure given, implying a stable economic environment that supports rental payments.
This ZIP code does not fall into the high-yield/low-stability category typically associated with flip-style markets. Instead, it leans towards a steady cash flow zone due to the relatively consistent income levels and moderate rental rates. However, the slightly higher FMR compared to the market rent presents an opportunity for landlords who can manage their properties efficiently to achieve better yields.
To summarize, ZIP 47712 in Evansville, IN, provides a good balance between yield and stability, making it suitable for investors seeking reliable rental income without excessive risk. The key figures driving this assessment include the FMR of $1,110, the median home value of $193,600, and the median household income of $68,494.
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.