ZIP 47231 Fair Market Rent FY2027
Small Area Fair Market Rents for ZIP code 47231 in the Jefferson County, IN FMR area.
Jefferson County, IN
Payment standard range
| Unit size | SAFMR | 90% | 110% | Metro FMR |
|---|---|---|---|---|
| Efficiency | $770 | $693 | $847 | $752 |
| 1 bedroom | $840 | $756 | $924 | $862 |
| 2 bedrooms | $1,040 | $936 | $1,144 | $1,041 |
| 3 bedrooms | $1,350 | $1,215 | $1,485 | $1,313 |
| 4 bedrooms | $1,600 | $1,440 | $1,760 | $1,636 |
Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.
Jennings County, IN
Payment standard range
| Unit size | SAFMR | 90% | 110% | Metro FMR |
|---|---|---|---|---|
| Efficiency | $770 | $693 | $847 | $778 |
| 1 bedroom | $840 | $756 | $924 | $795 |
| 2 bedrooms | $1,040 | $936 | $1,144 | $1,040 |
| 3 bedrooms | $1,350 | $1,215 | $1,485 | $1,385 |
| 4 bedrooms | $1,600 | $1,440 | $1,760 | $1,411 |
Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.
Income in ZIP 47231
| Adjusted gross income | Share of returns |
|---|---|
| $1 to $25,000 | 31.1% |
| $25,000 to $50,000 | 24.4% |
| $50,000 to $75,000 | 20.0% |
| $75,000 to $100,000 | 11.1% |
| $100,000 to $200,000 | 13.3% |
| $200,000 or more | 0.0% |
IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 17.8% of returns claimed the Earned Income Tax Credit.
Questions and answers
What is the Small Area Fair Market Rent for ZIP code 47231?
HUD's FY2027 Small Area FMRs for ZIP 47231 (Jefferson County, IN) are $770 efficiency, $840 one bedroom, $1,040 two bedrooms, $1,350 three and $1,600 four bedrooms.
What payment standard can a housing authority set in ZIP 47231?
Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $936 to $1,144.
How affordable is rent in ZIP 47231?
Tax returns filed from ZIP 47231 reported an average adjusted gross income of $56,651 (2022). A two-bedroom unit at the Small Area FMR costs $12,480 a year, or 22% of that income.