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Vanderburgh County/Evansville/47712

47712

ZIPSAFMR
Vanderburgh County, IN
Zillow

ZIP Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$840$920
1 BR$840$890
2 BR$1,090$1,170
3 BR$1,340$1,320
4 BR$1,480$1,510
5 BR$1,702Not available
6 BR$1,957Not available
7 BR$2,251Not available
8 BR$2,589Not available

Purchase Price Calculator

Maximum purchase price
$111,945

Cost breakdown

+Likely effective rent$1,170
HUD FMR$1,090
Market rent$1,220
Est. payment standard (108%)Used$1,170
-Principal and interest-$566
Loan amount$89,556
Down payment$22,389
Rate6.50%
Term30 years
-Operating costs-$404
Property taxes-$112
Insurance-$175
Utilities$0
HOA$0
Management-$117
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,016(84.9% ROI)
Projected value
$120,553
Return breakdown
Property appreciation+$8,608
Loan principal paid down+$3,209
Rental cash flow+$7,200
5-year hold
+$32,432(144.9% ROI)
Projected value
$126,656
Return breakdown
Property appreciation+$14,710
Loan principal paid down+$5,722
Rental cash flow+$12,000
10-year hold
+$68,988(308.1% ROI)
Projected value
$143,299
Return breakdown
Property appreciation+$31,354
Loan principal paid down+$13,634
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.91
2 BR
0.89
3 BR
1.02
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 47712 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47712 (Evansville, IN) is $1,090 a month. That is down 1.8% from $1,110 in FY 2026. Evansville is in the Evansville, IN MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,127. Among 37 ZIP codes in Vanderburgh County, 47712 has the 32nd-highest two-bedroom rent (county range $1,010–$1,650).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 47712
BedroomsFY 2027Change90–110% range
Studio$840−1.2%$756–$924
1BR$840−2.3%$756–$924
2BR$1,090−1.8%$981–$1,199
3BR$1,340−2.2%$1,206–$1,474
4BR$1,480−3.3%$1,332–$1,628

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 47712
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$840$1,090$1,340$1,480
FY 2026$850$860$1,110$1,370$1,530
FY 2025$800$840$1,080$1,330$1,510
FY 2024$790$880$1,110$1,410$1,620
FY 2023$720$810$1,010$1,310$1,520

Two-bedroom rent in nearby Vanderburgh County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 47712
47704$1,140+4.6%
47705$1,140+4.6%
47706$1,140+4.6%
47708$1,320+21.1%
47710$1,070−1.8%
47711$1,140+4.6%
47712Current$1,090—
47713$1,110+1.8%
47714$1,180+8.3%
47715$1,270+16.5%
47716$1,140+4.6%
47719$1,140+4.6%

Questions about ZIP 47712 rents

How much will Section 8 pay for a two-bedroom in ZIP 47712?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,127, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,014 to $1,240 a month; under the ZIP-level Small Area FMR of $1,090 it would be $981 to $1,199. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 47712 in?

ZIP 47712 is in the Evansville, IN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,127.

How much did fair market rent change in ZIP 47712 for FY 2027?

The two-bedroom FMR fell 1.8%, from $1,110 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 7.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentEvansville, IN fair market rentIN statewide rentsWhat is SAFMR?Data sources