FY2027 Small Area FMR · Versailles, IN

ZIP 47042 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47042 (Versailles, IN) is $1,010 a month, up 5.2% from FY2026. That is 4% below the Ripley County, IN area-wide FMR of $1,053.

2-bedroom SAFMR$1,010per month ▲ 5.2%

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

Rank in the area16thof 16 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$760▲ 15.2%

1 BR$780▲ 6.8%

2 BR$1,010▲ 5.2%

3 BR$1,320▲ 4.8%

4 BR$1,340▲ 5.5%

FY2027 FY2026

Where 47042 sits in the Ripley County, IN area

Of the 16 ZIP codes HUD lists for the area, 47042 has the 16th 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 $1,010 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	$760	$684 – $836	$788	$660
1 bedroom	$780	$702 – $858	$805	$730
2 bedrooms	$1,010	$909 – $1,111	$1,053	$960
3 bedrooms	$1,320	$1,188 – $1,452	$1,363	$1,260
4 bedrooms	$1,340	$1,206 – $1,474	$1,384	$1,270

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 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 47042 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
47021	Friendship	6.6 mi	$1,050
47017	Cross Plains	6.9 mi	$1,070
47023	Holton	8.0 mi	$1,210
47031	Milan	9.0 mi	$1,180
47018	Dillsboro	9.2 mi	$1,220
47224	Canaan	9.3 mi	$1,030

Questions

What is the Fair Market Rent for ZIP code 47042?

HUD's FY2027 Small Area Fair Market Rents for 47042 are $760 (studio), $780 (1 BR), $1,010 (2 BR), $1,320 (3 BR) and $1,340 (4 BR) a month.

What is the Section 8 payment standard in 47042?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47042 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47042?

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.