Location: Evansville, IN | Metro: Evansville, IN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
The analysis of ZIP code 47733 within the Evansville, IN MSA reveals several key points for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for ZIP 47733 in fiscal year 2024 is set at $1090. However, due to the lack of specific market rent data, it's impossible to directly compare the two figures. This absence suggests that landlords should conduct local research to ensure their rental rates align with the FMR and the actual demand.
Regarding property acquisition, the median home value is listed as N/A, which indicates that there might be limited data available on recent sales. The days on market (DOM) and the percentage of homes requiring price cuts are also not provided, making it difficult to assess how affordable properties are to acquire. Investors should seek out detailed local real estate reports to understand the current market conditions better.
Tenant demand in ZIP 47733 is unclear without specific population and renter share percentages. These figures would help determine the potential pool of renters and the competition for housing. Without this data, investors must rely on broader regional trends and conduct further investigation into the local rental market dynamics.
Verdict: While the Fair Market Rent provides a benchmark for rental pricing, the lack of detailed local data—specifically market rents, median home values, DOM, price cut shares, population, and renter share percentages—makes it challenging to provide a definitive assessment of the viability of investing in ZIP 47733. Landlords and investors must gather additional local information to make informed decisions about both rental pricing and property acquisition.
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.