ZIP 47922 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47922 in the Gary, IN FMR area.

Gary, IN

$1,020Efficiency
$1,0801 bedroom
$1,3102 bedrooms
$1,5903 bedrooms
$1,7404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,020$918$1,122$1,117
1 bedroom$1,080$972$1,188$1,176
2 bedrooms$1,310$1,179$1,441$1,429
3 bedrooms$1,590$1,431$1,749$1,739
4 bedrooms$1,740$1,566$1,914$1,898

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

Jasper County, IN

$1,020Efficiency
$1,0801 bedroom
$1,3102 bedrooms
$1,5903 bedrooms
$1,7404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,020$918$1,122$1,024
1 bedroom$1,080$972$1,188$1,031
2 bedrooms$1,310$1,179$1,441$1,349
3 bedrooms$1,590$1,431$1,749$1,741
4 bedrooms$1,740$1,566$1,914$1,773

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

Income in ZIP 47922

$67,422average adjusted gross income per tax return (2022)
$39,664average salaries and wages per return
690tax returns filed
23%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00030.4%
$25,000 to $50,00026.1%
$50,000 to $75,00015.9%
$75,000 to $100,00010.1%
$100,000 to $200,00014.5%
$200,000 or more2.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 15.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47922?

HUD's FY2027 Small Area FMRs for ZIP 47922 (Gary, IN) are $1,020 efficiency, $1,080 one bedroom, $1,310 two bedrooms, $1,590 three and $1,740 four bedrooms.

What payment standard can a housing authority set in ZIP 47922?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,179 to $1,441.

How affordable is rent in ZIP 47922?

Tax returns filed from ZIP 47922 reported an average adjusted gross income of $67,422 (2022). A two-bedroom unit at the Small Area FMR costs $15,720 a year, or 23% of that income.