FY2027 Small Area FMR · Cortland, IN

ZIP 47228 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47228 (Cortland, IN) is $1,140 a month, up 7.5% from FY2026. That is 0% equal to the Jackson County, IN area-wide FMR of $1,142.

2-bedroom SAFMR$1,140per month ▲ 7.5%

Area-wide 2 BR FMR$1,142Jackson County, IN

Rank in the area3rdof 10 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,026

2 BR Small Area FMR$1,140

110% of SAFMR$1,254

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

Studio$870▲ 8.8%

1 BR$870▲ 7.4%

2 BR$1,140▲ 7.5%

3 BR$1,440▲ 8.3%

4 BR$1,500▲ 7.1%

FY2027 FY2026

Where 47228 sits in the Jackson County, IN area

Of the 10 ZIP codes HUD lists for the area, 47228 has the 3rd highest two-bedroom Small Area FMR. Jackson 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 $1,142 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,140 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	$870	$783 – $957	$867	$800
1 bedroom	$870	$783 – $957	$873	$810
2 bedrooms	$1,140	$1,026 – $1,254	$1,142	$1,060
3 bedrooms	$1,440	$1,296 – $1,584	$1,445	$1,330
4 bedrooms	$1,500	$1,350 – $1,650	$1,507	$1,400

A household renting a two-bedroom home at the Small Area FMR of $1,140 needs about $45,600 a year to keep housing costs at 30% of income. The area median family income is $93,100 and the 80% low-income limit for four people is $74,500. ZIP code 47228 lies mainly in Jackson County. See the Jackson County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47274	Seymour	1.5 mi	$1,150
47247	Jonesville	7.1 mi	$1,280
47220	Brownstown	8.2 mi	$1,040
47235	Freetown	9.4 mi	$1,010
47229	Crothersville	12.7 mi	$1,100
47201	Columbus	12.8 mi	$1,560

Questions

What is the Fair Market Rent for ZIP code 47228?

HUD's FY2027 Small Area Fair Market Rents for 47228 are $870 (studio), $870 (1 BR), $1,140 (2 BR), $1,440 (3 BR) and $1,500 (4 BR) a month.

What is the Section 8 payment standard in 47228?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47228 that range is $1,026 to $1,254 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47228?

The FY2026 income limits of the Jackson County, IN area apply: median family income $93,100, low-income (80%) limit $74,500 for a family of four.