ZIP 47302 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47302 in the Muncie, IN MSA FMR area.

Muncie, IN MSA

$870Efficiency

$8801 bedroom

$1,1102 bedrooms

$1,3903 bedrooms

$1,8304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$870	$783	$957	$899
1 bedroom	$880	$792	$968	$913
2 bedrooms	$1,110	$999	$1,221	$1,145
3 bedrooms	$1,390	$1,251	$1,529	$1,438
4 bedrooms	$1,830	$1,647	$2,013	$1,890

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

Henry County, IN

$870Efficiency

$8801 bedroom

$1,1102 bedrooms

$1,3903 bedrooms

$1,8304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$870	$783	$957	$805
1 bedroom	$880	$792	$968	$810
2 bedrooms	$1,110	$999	$1,221	$1,014
3 bedrooms	$1,390	$1,251	$1,529	$1,208
4 bedrooms	$1,830	$1,647	$2,013	$1,333

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

Income in ZIP 47302

$42,346average adjusted gross income per tax return (2022)

$33,998average salaries and wages per return

11,150tax returns filed

31%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	40.9%
$25,000 to $50,000	30.2%
$50,000 to $75,000	13.6%
$75,000 to $100,000	7.1%
$100,000 to $200,000	7.3%
$200,000 or more	0.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 26.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47302?

HUD's FY2027 Small Area FMRs for ZIP 47302 (Muncie, IN MSA) are $870 efficiency, $880 one bedroom, $1,110 two bedrooms, $1,390 three and $1,830 four bedrooms.

What payment standard can a housing authority set in ZIP 47302?

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 47302?

Tax returns filed from ZIP 47302 reported an average adjusted gross income of $42,346 (2022). A two-bedroom unit at the Small Area FMR costs $13,320 a year, or 31% of that income.