FY2027 Small Area FMR · Kennard, IN

ZIP 47351 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47351 (Kennard, IN) is $1,290 a month, up 4.9% from FY2026. That is 27% above the Henry County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,290per month ▲ 4.9%

Area-wide 2 BR FMR$1,014Henry County, IN

Rank in the area7thof 23 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,161

2 BR Small Area FMR$1,290

110% of SAFMR$1,419

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

Studio$1,020▲ 3.0%

1 BR$1,030▲ 3.0%

2 BR$1,290▲ 4.9%

3 BR$1,540▲ 4.8%

4 BR$1,700▲ 4.3%

FY2027 FY2026

Where 47351 sits in the Henry County, IN area

Of the 23 ZIP codes HUD lists for the area, 47351 has the 7th highest two-bedroom Small Area FMR. Henry 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,290 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	$1,020	$918 – $1,122	$805	$990
1 bedroom	$1,030	$927 – $1,133	$810	$1,000
2 bedrooms	$1,290	$1,161 – $1,419	$1,014	$1,230
3 bedrooms	$1,540	$1,386 – $1,694	$1,208	$1,470
4 bedrooms	$1,700	$1,530 – $1,870	$1,333	$1,630

A household renting a two-bedroom home at the Small Area FMR of $1,290 needs about $51,600 a year to keep housing costs at 30% of income. The area median family income is $81,300 and the 80% low-income limit for four people is $67,850. ZIP code 47351 lies mainly in Henry County. See the Henry County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47384	Shirley	1.5 mi	$1,140
47344	Greensboro	3.6 mi	$1,040
47385	Spiceland	6.5 mi	$1,010
46186	Wilkinson	6.6 mi	$1,410
46148	Knightstown	6.6 mi	$1,110
46056	Markleville	6.7 mi	$1,470

Questions

What is the Fair Market Rent for ZIP code 47351?

HUD's FY2027 Small Area Fair Market Rents for 47351 are $1,020 (studio), $1,030 (1 BR), $1,290 (2 BR), $1,540 (3 BR) and $1,700 (4 BR) a month.

What is the Section 8 payment standard in 47351?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47351 that range is $1,161 to $1,419 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47351?

The FY2026 income limits of the Henry County, IN area apply: median family income $81,300, low-income (80%) limit $67,850 for a family of four.