ZIP 47224 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47224 in the Jefferson County, IN FMR area.

Jefferson County, IN

$750Efficiency

$8401 bedroom

$1,0302 bedrooms

$1,2903 bedrooms

$1,5704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$750	$675	$825	$752
1 bedroom	$840	$756	$924	$862
2 bedrooms	$1,030	$927	$1,133	$1,041
3 bedrooms	$1,290	$1,161	$1,419	$1,313
4 bedrooms	$1,570	$1,413	$1,727	$1,636

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

Ripley County, IN

$750Efficiency

$8401 bedroom

$1,0302 bedrooms

$1,2903 bedrooms

$1,5704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$750	$675	$825	$788
1 bedroom	$840	$756	$924	$805
2 bedrooms	$1,030	$927	$1,133	$1,053
3 bedrooms	$1,290	$1,161	$1,419	$1,363
4 bedrooms	$1,570	$1,413	$1,727	$1,384

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

Switzerland County, IN

$750Efficiency

$8401 bedroom

$1,0302 bedrooms

$1,2903 bedrooms

$1,5704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$750	$675	$825	$770
1 bedroom	$840	$756	$924	$787
2 bedrooms	$1,030	$927	$1,133	$1,029
3 bedrooms	$1,290	$1,161	$1,419	$1,246
4 bedrooms	$1,570	$1,413	$1,727	$1,376

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

Income in ZIP 47224

$48,768average adjusted gross income per tax return (2022)

$33,920average salaries and wages per return

250tax returns filed

25%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	36.0%
$25,000 to $50,000	24.0%
$50,000 to $75,000	16.0%
$75,000 to $100,000	8.0%
$100,000 to $200,000	16.0%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 12.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47224?

HUD's FY2027 Small Area FMRs for ZIP 47224 (Jefferson County, IN) are $750 efficiency, $840 one bedroom, $1,030 two bedrooms, $1,290 three and $1,570 four bedrooms.

What payment standard can a housing authority set in ZIP 47224?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $927 to $1,133.

How affordable is rent in ZIP 47224?

Tax returns filed from ZIP 47224 reported an average adjusted gross income of $48,768 (2022). A two-bedroom unit at the Small Area FMR costs $12,360 a year, or 25% of that income.