FY2027 Small Area FMR · Bloomington, IN

ZIP 47407 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47407 (Bloomington, IN) is $1,250 a month, up 3.3% from FY2026. That is 0% equal to the Bloomington, IN area-wide FMR of $1,252.

2-bedroom SAFMR$1,250per month ▲ 3.3%

Area-wide 2 BR FMR$1,252Bloomington, IN

Rank in the area10thof 22 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,125

2 BR Small Area FMR$1,250

110% of SAFMR$1,375

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

Studio$1,000▲ 3.1%

1 BR$1,090▲ 1.9%

2 BR$1,250▲ 3.3%

3 BR$1,600▲ 1.9%

4 BR$1,930▲ 1.0%

FY2027 FY2026

Where 47407 sits in the Bloomington, IN area

Of the 22 ZIP codes HUD lists for the area, 47407 has the 10th highest two-bedroom Small Area FMR. Bloomington, 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 $1,252 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,250 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	$1,000	$900 – $1,100	$1,001	$970
1 bedroom	$1,090	$981 – $1,199	$1,096	$1,070
2 bedrooms	$1,250	$1,125 – $1,375	$1,252	$1,210
3 bedrooms	$1,600	$1,440 – $1,760	$1,601	$1,570
4 bedrooms	$1,930	$1,737 – $2,123	$1,932	$1,910

A household renting a two-bedroom home at the Small Area FMR of $1,250 needs about $50,000 a year to keep housing costs at 30% of income. The area median family income is $109,900 and the 80% low-income limit for four people is $87,900. ZIP code 47407 lies mainly in Monroe County. See the Bloomington, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47406	Bloomington	0.8 mi	$1,270
47405	Bloomington	1.0 mi	$1,270
47408	Bloomington	4.3 mi	$1,260
47404	Bloomington	5.8 mi	$1,270
47401	Bloomington	5.8 mi	$1,290
47458	Smithville	7.1 mi	$1,290

Questions

What is the Fair Market Rent for ZIP code 47407?

HUD's FY2027 Small Area Fair Market Rents for 47407 are $1,000 (studio), $1,090 (1 BR), $1,250 (2 BR), $1,600 (3 BR) and $1,930 (4 BR) a month.

What is the Section 8 payment standard in 47407?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47407 that range is $1,125 to $1,375 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47407?

The FY2026 income limits of the Bloomington, IN area apply: median family income $109,900, low-income (80%) limit $87,900 for a family of four.