ZIP 47427 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47427 in the Owen County, IN FMR area.

Owen County, IN

$810Efficiency

$9001 bedroom

$1,0102 bedrooms

$1,2403 bedrooms

$1,5904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$810	$729	$891	$818
1 bedroom	$900	$810	$990	$914
2 bedrooms	$1,010	$909	$1,111	$1,014
3 bedrooms	$1,240	$1,116	$1,364	$1,244
4 bedrooms	$1,590	$1,431	$1,749	$1,606

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

Terre Haute, IN

$810Efficiency

$9001 bedroom

$1,0102 bedrooms

$1,2403 bedrooms

$1,5904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$810	$729	$891	$890
1 bedroom	$900	$810	$990	$896
2 bedrooms	$1,010	$909	$1,111	$1,164
3 bedrooms	$1,240	$1,116	$1,364	$1,387
4 bedrooms	$1,590	$1,431	$1,749	$1,610

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

Income in ZIP 47427

$56,900average adjusted gross income per tax return (2022)

$39,174average salaries and wages per return

430tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	32.6%
$25,000 to $50,000	25.6%
$50,000 to $75,000	18.6%
$75,000 to $100,000	9.3%
$100,000 to $200,000	14.0%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47427?

HUD's FY2027 Small Area FMRs for ZIP 47427 (Owen County, IN) are $810 efficiency, $900 one bedroom, $1,010 two bedrooms, $1,240 three and $1,590 four bedrooms.

What payment standard can a housing authority set in ZIP 47427?

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 47427?

Tax returns filed from ZIP 47427 reported an average adjusted gross income of $56,900 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 21% of that income.