Location: Parke County, IN | Metro: Terre Haute, IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
ZIP 47837, located in Carbon, IN, within the Parke County, IN metro area, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $990, which is notably higher than the current market rent of $940. This $50 spread ensures that landlords can maintain steady cash flow without relying on speculative market growth.
The median home value in ZIP 47837 stands at $181,257, indicating a relatively stable housing market. Landlords can leverage this stability by securing long-term rental agreements through Section 8 vouchers, which provide consistent income regardless of short-term market fluctuations.
While ZIP 47837 does not present significant opportunities for appreciation plays due to its N/A% price-cut share and N/A-day days on market (DOM), it excels as a diversifier. With a 2.5% renter share and a median income of $77,500, the area demonstrates a balance between homeownership and rental demand. This mix ensures that landlords can attract a reliable tenant pool while minimizing risks associated with high renter concentration areas.
In summary, ZIP 47837 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Its favorable FMR-to-market rent spread and stable median home value support this classification, providing landlords with predictable and sustainable income.
Data Sources: FMR data from HUD (2027). 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.