ZIP 47006 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47006 in the Franklin County, IN FMR area.

Franklin County, IN

$820Efficiency

$8701 bedroom

$1,1102 bedrooms

$1,4403 bedrooms

$1,4504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$841
1 bedroom	$870	$783	$957	$950
2 bedrooms	$1,110	$999	$1,221	$1,148
3 bedrooms	$1,440	$1,296	$1,584	$1,503
4 bedrooms	$1,450	$1,305	$1,595	$1,509

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Decatur County, IN

$820Efficiency

$8701 bedroom

$1,1102 bedrooms

$1,4403 bedrooms

$1,4504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$832
1 bedroom	$870	$783	$957	$850
2 bedrooms	$1,110	$999	$1,221	$1,112
3 bedrooms	$1,440	$1,296	$1,584	$1,325
4 bedrooms	$1,450	$1,305	$1,595	$1,461

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Ripley County, IN

$820Efficiency

$8701 bedroom

$1,1102 bedrooms

$1,4403 bedrooms

$1,4504 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$788
1 bedroom	$870	$783	$957	$805
2 bedrooms	$1,110	$999	$1,221	$1,053
3 bedrooms	$1,440	$1,296	$1,584	$1,363
4 bedrooms	$1,450	$1,305	$1,595	$1,384

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 47006

$90,626average adjusted gross income per tax return (2022)

$59,368average salaries and wages per return

6,270tax returns filed

15%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	26.3%
$25,000 to $50,000	21.4%
$50,000 to $75,000	14.4%
$75,000 to $100,000	11.2%
$100,000 to $200,000	20.1%
$200,000 or more	6.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 9.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47006?

HUD's FY2027 Small Area FMRs for ZIP 47006 (Franklin County, IN) are $820 efficiency, $870 one bedroom, $1,110 two bedrooms, $1,440 three and $1,450 four bedrooms.

What payment standard can a housing authority set in ZIP 47006?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $999 to $1,221.

How affordable is rent in ZIP 47006?

Tax returns filed from ZIP 47006 reported an average adjusted gross income of $90,626 (2022). A two-bedroom unit at the Small Area FMR costs $13,320 a year, or 15% of that income.