ZIP 47341 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47341 in the Randolph County, IN FMR area.

Randolph County, IN

$770Efficiency

$7801 bedroom

$1,0102 bedrooms

$1,2903 bedrooms

$1,3404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$770	$693	$847	$706
1 bedroom	$780	$702	$858	$931
2 bedrooms	$1,010	$909	$1,111	$1,014
3 bedrooms	$1,290	$1,161	$1,419	$1,328
4 bedrooms	$1,340	$1,206	$1,474	$1,333

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

Wayne County, IN

$770Efficiency

$7801 bedroom

$1,0102 bedrooms

$1,2903 bedrooms

$1,3404 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$770	$693	$847	$770
1 bedroom	$780	$702	$858	$775
2 bedrooms	$1,010	$909	$1,111	$1,014
3 bedrooms	$1,290	$1,161	$1,419	$1,281
4 bedrooms	$1,340	$1,206	$1,474	$1,333

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

Income in ZIP 47341

$59,160average adjusted gross income per tax return (2022)

$41,310average salaries and wages per return

970tax returns filed

20%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	30.9%
$25,000 to $50,000	25.8%
$50,000 to $75,000	16.5%
$75,000 to $100,000	11.3%
$100,000 to $200,000	13.4%
$200,000 or more	2.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 14.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47341?

HUD's FY2027 Small Area FMRs for ZIP 47341 (Randolph County, IN) are $770 efficiency, $780 one bedroom, $1,010 two bedrooms, $1,290 three and $1,340 four bedrooms.

What payment standard can a housing authority set in ZIP 47341?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $909 to $1,111.

How affordable is rent in ZIP 47341?

Tax returns filed from ZIP 47341 reported an average adjusted gross income of $59,160 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 20% of that income.