Location: Parke County, IN | Metro: Fountain 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 | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $175,715 | 0.57% | F |
| 3BR | $1,300 | $212,710 | 0.61% | D |
| 4BR | $1,620 | $256,532 | 0.63% | D |
U.S. Census Bureau data (2024)
The analysis for Section 8 properties in ZIP code 47952 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $920, while the Census ACS reports the market rent at $871. This means that landlords can charge $49 more per month above the market rate when renting to voucher tenants, representing a 5.6% premium over the open-market rent.
The higher FMR compared to the market rent makes this area a prime yield play for landlords who accept Section 8 vouchers. By renting to voucher tenants, landlords can secure a steady stream of income at rates above what the average renter might pay in the open market. This is particularly advantageous given the local context where 35.8% of residents are renters, indicating a robust demand for rental properties.
In ZIP 47952, the median home value stands at $185,029, which suggests that homeownership is relatively affordable. However, the median household income of $53,409 indicates that a substantial portion of the population may still rely on rental assistance programs like Section 8 to find suitable housing. Accepting Section 8 vouchers allows landlords to tap into this segment of the market, ensuring occupancy and stable cash flow despite the lower overall income levels.
While the premium of $49 per month is modest, it can significantly impact the bottom line for small-portfolio investors. The key consideration is the administrative ease and reliability of voucher payments compared to collecting rent from individual tenants. Moreover, the consistent demand for rental properties in this area ensures that there will be a pool of voucher holders looking for housing, making it a reliable strategy for landlords.
To summarize, the gap between FMR and market rent in ZIP 47952 presents an opportunity for landlords to increase their yields by accepting Section 8 vouchers. The 5.6% premium, combined with the high percentage of renters and the need for affordable housing, makes this a sound investment decision for those looking to maximize returns in a stable rental market.
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.