FY2027 Small Area FMR · Ellettsville, IN

ZIP 47429 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47429 (Ellettsville, IN) is $1,090 a month, down 1.8% from FY2026. That is 13% below the Bloomington, IN area-wide FMR of $1,252.

2-bedroom SAFMR$1,090per month ▼ 1.8%

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

Rank in the area17thof 22 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$981

2 BR Small Area FMR$1,090

110% of SAFMR$1,199

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

Studio$870■ 0.0%

1 BR$970▼ 1.0%

2 BR$1,090▼ 1.8%

3 BR$1,420▼ 2.7%

4 BR$1,720▼ 1.1%

FY2027 FY2026

Where 47429 sits in the Bloomington, IN area

Of the 22 ZIP codes HUD lists for the area, 47429 has the 17th 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 $1,090 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	$1,001	$870
1 bedroom	$970	$873 – $1,067	$1,096	$980
2 bedrooms	$1,090	$981 – $1,199	$1,252	$1,110
3 bedrooms	$1,420	$1,278 – $1,562	$1,601	$1,460
4 bedrooms	$1,720	$1,548 – $1,892	$1,932	$1,740

A household renting a two-bedroom home at the Small Area FMR of $1,090 needs about $43,600 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 47429 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
47464	Stinesville	2.6 mi	$1,090
47404	Bloomington	3.9 mi	$1,270
47433	Gosport	5.9 mi	$1,010
47408	Bloomington	8.5 mi	$1,260
47406	Bloomington	8.5 mi	$1,270
47405	Bloomington	8.9 mi	$1,270

Questions

What is the Fair Market Rent for ZIP code 47429?

HUD's FY2027 Small Area Fair Market Rents for 47429 are $870 (studio), $970 (1 BR), $1,090 (2 BR), $1,420 (3 BR) and $1,720 (4 BR) a month.

What is the Section 8 payment standard in 47429?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47429 that range is $981 to $1,199 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47429?

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.