ZIP 47424 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47424 in the Owen County, IN FMR area.

Owen County, IN

$820Efficiency

$8301 bedroom

$1,0802 bedrooms

$1,3503 bedrooms

$1,6304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$818
1 bedroom	$830	$747	$913	$914
2 bedrooms	$1,080	$972	$1,188	$1,014
3 bedrooms	$1,350	$1,215	$1,485	$1,244
4 bedrooms	$1,630	$1,467	$1,793	$1,606

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

Greene County, IN

$820Efficiency

$8301 bedroom

$1,0802 bedrooms

$1,3503 bedrooms

$1,6304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$770
1 bedroom	$830	$747	$913	$775
2 bedrooms	$1,080	$972	$1,188	$1,014
3 bedrooms	$1,350	$1,215	$1,485	$1,266
4 bedrooms	$1,630	$1,467	$1,793	$1,533

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

Income in ZIP 47424

$65,456average adjusted gross income per tax return (2022)

$47,478average salaries and wages per return

4,410tax returns filed

20%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	27.9%
$25,000 to $50,000	22.7%
$50,000 to $75,000	16.6%
$75,000 to $100,000	12.2%
$100,000 to $200,000	18.1%
$200,000 or more	2.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 12.7% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47424?

HUD's FY2027 Small Area FMRs for ZIP 47424 (Owen County, IN) are $820 efficiency, $830 one bedroom, $1,080 two bedrooms, $1,350 three and $1,630 four bedrooms.

What payment standard can a housing authority set in ZIP 47424?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $972 to $1,188.

How affordable is rent in ZIP 47424?

Tax returns filed from ZIP 47424 reported an average adjusted gross income of $65,456 (2022). A two-bedroom unit at the Small Area FMR costs $12,960 a year, or 20% of that income.