ZIP 47334 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47334 in the Muncie, IN MSA FMR area.

Muncie, IN MSA

$840Efficiency

$8501 bedroom

$1,0702 bedrooms

$1,3403 bedrooms

$1,7604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$840	$756	$924	$899
1 bedroom	$850	$765	$935	$913
2 bedrooms	$1,070	$963	$1,177	$1,145
3 bedrooms	$1,340	$1,206	$1,474	$1,438
4 bedrooms	$1,760	$1,584	$1,936	$1,890

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

Henry County, IN

$840Efficiency

$8501 bedroom

$1,0702 bedrooms

$1,3403 bedrooms

$1,7604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$840	$756	$924	$805
1 bedroom	$850	$765	$935	$810
2 bedrooms	$1,070	$963	$1,177	$1,014
3 bedrooms	$1,340	$1,206	$1,474	$1,208
4 bedrooms	$1,760	$1,584	$1,936	$1,333

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

Income in ZIP 47334

$73,204average adjusted gross income per tax return (2022)

$47,024average salaries and wages per return

1,550tax returns filed

18%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	28.4%
$25,000 to $50,000	23.9%
$50,000 to $75,000	16.1%
$75,000 to $100,000	12.3%
$100,000 to $200,000	16.1%
$200,000 or more	3.2%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 12.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47334?

HUD's FY2027 Small Area FMRs for ZIP 47334 (Muncie, IN MSA) are $840 efficiency, $850 one bedroom, $1,070 two bedrooms, $1,340 three and $1,760 four bedrooms.

What payment standard can a housing authority set in ZIP 47334?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $963 to $1,177.

How affordable is rent in ZIP 47334?

Tax returns filed from ZIP 47334 reported an average adjusted gross income of $73,204 (2022). A two-bedroom unit at the Small Area FMR costs $12,840 a year, or 18% of that income.