FY2027 Small Area FMR · Paoli, IN

ZIP 47454 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47454 (Paoli, IN) is $1,050 a month, up 6.1% from FY2026. That is 4% above the Orange County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,050per month ▲ 6.1%

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

Rank in the area6thof 13 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$945

2 BR Small Area FMR$1,050

110% of SAFMR$1,155

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

Studio$790▲ 11.3%

1 BR$850▲ 13.3%

2 BR$1,050▲ 6.1%

3 BR$1,430▲ 3.6%

4 BR$1,700▲ 4.9%

FY2027 FY2026

Where 47454 sits in the Orange County, IN area

Of the 13 ZIP codes HUD lists for the area, 47454 has the 6th highest two-bedroom Small Area FMR. Orange 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 $1,050 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	$790	$711 – $869	$759	$710
1 bedroom	$850	$765 – $935	$826	$750
2 bedrooms	$1,050	$945 – $1,155	$1,014	$990
3 bedrooms	$1,430	$1,287 – $1,573	$1,378	$1,380
4 bedrooms	$1,700	$1,530 – $1,870	$1,637	$1,620

A household renting a two-bedroom home at the Small Area FMR of $1,050 needs about $42,000 a year to keep housing costs at 30% of income. The area median family income is $90,300 and the 80% low-income limit for four people is $72,250. ZIP code 47454 lies mainly in Orange County. See the Orange County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47125	Hardinsburg	8.2 mi	$1,250
47452	Orleans	9.5 mi	$1,020
47140	Marengo	9.7 mi	$1,060
47432	French Lick	10.4 mi	$1,020
47175	Taswell	11.2 mi	$1,010
47469	West Baden Springs	11.9 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 47454?

HUD's FY2027 Small Area Fair Market Rents for 47454 are $790 (studio), $850 (1 BR), $1,050 (2 BR), $1,430 (3 BR) and $1,700 (4 BR) a month.

What is the Section 8 payment standard in 47454?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47454 that range is $945 to $1,155 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47454?

The FY2026 income limits of the Orange County, IN area apply: median family income $90,300, low-income (80%) limit $72,250 for a family of four.