FY2027 Small Area FMR · Muncie, IN

ZIP 47305 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47305 (Muncie, IN) is $1,010 a month, up 5.2% from FY2026. That is 12% below the Muncie, IN area-wide FMR of $1,145.

2-bedroom SAFMR$1,010per month ▲ 5.2%

Area-wide 2 BR FMR$1,145Muncie, IN

Rank in the area22ndof 24 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$800▲ 8.1%

1 BR$810▲ 5.2%

2 BR$1,010▲ 5.2%

3 BR$1,280▲ 3.2%

4 BR$1,680▲ 9.1%

FY2027 FY2026

Where 47305 sits in the Muncie, IN area

Of the 24 ZIP codes HUD lists for the area, 47305 has the 22nd highest two-bedroom Small Area FMR. Muncie, 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 $1,145 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	$800	$720 – $880	$899	$740
1 bedroom	$810	$729 – $891	$913	$770
2 bedrooms	$1,010	$909 – $1,111	$1,145	$960
3 bedrooms	$1,280	$1,152 – $1,408	$1,438	$1,240
4 bedrooms	$1,680	$1,512 – $1,848	$1,890	$1,540

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 $79,600 and the 80% low-income limit for four people is $67,850. ZIP code 47305 lies mainly in Delaware County. See the Muncie, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47306	Muncie	1.2 mi	$1,220
47302	Muncie	4.6 mi	$1,110
47304	Muncie	4.9 mi	$1,250
47303	Muncie	5.4 mi	$1,170
47396	Yorktown	6.9 mi	$1,130
47383	Selma	7.3 mi	$1,190

Questions

What is the Fair Market Rent for ZIP code 47305?

HUD's FY2027 Small Area Fair Market Rents for 47305 are $800 (studio), $810 (1 BR), $1,010 (2 BR), $1,280 (3 BR) and $1,680 (4 BR) a month.

What is the Section 8 payment standard in 47305?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47305 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 47305?

The FY2026 income limits of the Muncie, IN area apply: median family income $79,600, low-income (80%) limit $67,850 for a family of four.