FY2027 Small Area FMR · Lamar, IN

ZIP 47550 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47550 (Lamar, IN) is $1,010 a month, up 5.2% from FY2026. That is 0% equal to the Spencer County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,010per month ▲ 5.2%

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

Rank in the area12thof 18 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$710▲ 7.6%

1 BR$780▲ 6.8%

2 BR$1,010▲ 5.2%

3 BR$1,360▲ 1.5%

4 BR$1,370▼ 1.4%

FY2027 FY2026

Where 47550 sits in the Spencer County, IN area

Of the 18 ZIP codes HUD lists for the area, 47550 has the 12th highest two-bedroom Small Area FMR. Spencer 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 $1,010 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	$710	$639 – $781	$706	$660
1 bedroom	$780	$702 – $858	$775	$730
2 bedrooms	$1,010	$909 – $1,111	$1,014	$960
3 bedrooms	$1,360	$1,224 – $1,496	$1,351	$1,340
4 bedrooms	$1,370	$1,233 – $1,507	$1,356	$1,390

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 $99,400 and the 80% low-income limit for four people is $79,500. ZIP code 47550 lies mainly in Spencer County. See the Spencer County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47579	Santa Claus	3.1 mi	$1,470
47531	Evanston	4.2 mi	$1,200
47552	Lincoln City	5.4 mi	$1,090
47537	Gentryville	6.3 mi	$1,010
47615	Grandview	7.1 mi	$1,210
47588	Troy	7.8 mi	$1,240

Questions

What is the Fair Market Rent for ZIP code 47550?

HUD's FY2027 Small Area Fair Market Rents for 47550 are $710 (studio), $780 (1 BR), $1,010 (2 BR), $1,360 (3 BR) and $1,370 (4 BR) a month.

What is the Section 8 payment standard in 47550?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47550 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 47550?

The FY2026 income limits of the Spencer County, IN area apply: median family income $99,400, low-income (80%) limit $79,500 for a family of four.