ZIP 47448 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47448 in the Bloomington, IN FMR area.

Bloomington, IN

$1,000Efficiency

$1,1201 bedroom

$1,2902 bedrooms

$1,6703 bedrooms

$2,0304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,000	$900	$1,100	$1,001
1 bedroom	$1,120	$1,008	$1,232	$1,096
2 bedrooms	$1,290	$1,161	$1,419	$1,252
3 bedrooms	$1,670	$1,503	$1,837	$1,601
4 bedrooms	$2,030	$1,827	$2,233	$1,932

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

Columbus, IN MSA

$1,000Efficiency

$1,1201 bedroom

$1,2902 bedrooms

$1,6703 bedrooms

$2,0304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,000	$900	$1,100	$1,261
1 bedroom	$1,120	$1,008	$1,232	$1,276
2 bedrooms	$1,290	$1,161	$1,419	$1,493
3 bedrooms	$1,670	$1,503	$1,837	$1,779
4 bedrooms	$2,030	$1,827	$2,233	$2,126

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

Indianapolis-Carmel, IN

$1,000Efficiency

$1,1201 bedroom

$1,2902 bedrooms

$1,6703 bedrooms

$2,0304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,000	$900	$1,100	$1,187
1 bedroom	$1,120	$1,008	$1,232	$1,336
2 bedrooms	$1,290	$1,161	$1,419	$1,536
3 bedrooms	$1,670	$1,503	$1,837	$1,991
4 bedrooms	$2,030	$1,827	$2,233	$2,425

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

Income in ZIP 47448

$74,710average adjusted gross income per tax return (2022)

$44,245average salaries and wages per return

3,990tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	30.3%
$25,000 to $50,000	21.1%
$50,000 to $75,000	14.3%
$75,000 to $100,000	11.0%
$100,000 to $200,000	17.5%
$200,000 or more	5.8%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47448?

HUD's FY2027 Small Area FMRs for ZIP 47448 (Bloomington, IN) are $1,000 efficiency, $1,120 one bedroom, $1,290 two bedrooms, $1,670 three and $2,030 four bedrooms.

What payment standard can a housing authority set in ZIP 47448?

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 47448?

Tax returns filed from ZIP 47448 reported an average adjusted gross income of $74,710 (2022). A two-bedroom unit at the Small Area FMR costs $15,480 a year, or 21% of that income.