FY2027 Small Area FMR · Napoleon, IN

ZIP 47034 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47034 (Napoleon, IN) is $1,070 a month, down 2.7% from FY2026. That is 2% above the Ripley County, IN area-wide FMR of $1,053.

2-bedroom SAFMR$1,070per month ▼ 2.7%

Area-wide 2 BR FMR$1,053Ripley County, IN

Rank in the area8thof 16 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$800▲ 5.3%

1 BR$820▼ 2.4%

2 BR$1,070▼ 2.7%

3 BR$1,390▼ 4.1%

4 BR$1,410▼ 3.4%

FY2027 FY2026

Where 47034 sits in the Ripley County, IN area

Of the 16 ZIP codes HUD lists for the area, 47034 has the 8th highest two-bedroom Small Area FMR. Ripley County, IN is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,053 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,070 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$800	$720 – $880	$788	$760
1 bedroom	$820	$738 – $902	$805	$840
2 bedrooms	$1,070	$963 – $1,177	$1,053	$1,100
3 bedrooms	$1,390	$1,251 – $1,529	$1,363	$1,450
4 bedrooms	$1,410	$1,269 – $1,551	$1,384	$1,460

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $91,200 and the 80% low-income limit for four people is $73,350. ZIP code 47034 lies mainly in Ripley County. See the Ripley County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47037	Osgood	2.4 mi	$1,040
47263	New Point	7.3 mi	$1,560
47006	Batesville	8.5 mi	$1,110
47023	Holton	9.0 mi	$1,210
47033	Morris	9.8 mi	$1,050
47031	Milan	10.7 mi	$1,180

Questions

What is the Fair Market Rent for ZIP code 47034?

HUD's FY2027 Small Area Fair Market Rents for 47034 are $800 (studio), $820 (1 BR), $1,070 (2 BR), $1,390 (3 BR) and $1,410 (4 BR) a month.

What is the Section 8 payment standard in 47034?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47034 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47034?

The FY2026 income limits of the Ripley County, IN area apply: median family income $91,200, low-income (80%) limit $73,350 for a family of four.