ZIP 47401 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47401 in the Bloomington, IN FMR area.

Bloomington, IN

$1,030Efficiency
$1,1301 bedroom
$1,2902 bedrooms
$1,6503 bedrooms
$1,9904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,030$927$1,133$1,001
1 bedroom$1,130$1,017$1,243$1,096
2 bedrooms$1,290$1,161$1,419$1,252
3 bedrooms$1,650$1,485$1,815$1,601
4 bedrooms$1,990$1,791$2,189$1,932

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

Indianapolis-Carmel, IN

$1,030Efficiency
$1,1301 bedroom
$1,2902 bedrooms
$1,6503 bedrooms
$1,9904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,030$927$1,133$1,187
1 bedroom$1,130$1,017$1,243$1,336
2 bedrooms$1,290$1,161$1,419$1,536
3 bedrooms$1,650$1,485$1,815$1,991
4 bedrooms$1,990$1,791$2,189$2,425

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

Income in ZIP 47401

$100,453average adjusted gross income per tax return (2022)
$61,579average salaries and wages per return
18,300tax returns filed
15%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00028.0%
$25,000 to $50,00020.9%
$50,000 to $75,00012.7%
$75,000 to $100,0008.5%
$100,000 to $200,00018.4%
$200,000 or more11.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 9.1% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47401?

HUD's FY2027 Small Area FMRs for ZIP 47401 (Bloomington, IN) are $1,030 efficiency, $1,130 one bedroom, $1,290 two bedrooms, $1,650 three and $1,990 four bedrooms.

What payment standard can a housing authority set in ZIP 47401?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,161 to $1,419.

How affordable is rent in ZIP 47401?

Tax returns filed from ZIP 47401 reported an average adjusted gross income of $100,453 (2022). A two-bedroom unit at the Small Area FMR costs $15,480 a year, or 15% of that income.