FY2027 Small Area FMR · Evansville, IN

ZIP 47720 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47720 (Evansville, IN) is $1,200 a month, down 1.6% from FY2026. That is 6% above the Evansville, IN area-wide FMR of $1,127.

2-bedroom SAFMR$1,200per month ▼ 1.6%

Area-wide 2 BR FMR$1,127Evansville, IN

Rank in the area5thof 49 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,080

2 BR Small Area FMR$1,200

110% of SAFMR$1,320

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

Studio$920▼ 2.1%

1 BR$930▼ 1.1%

2 BR$1,200▼ 1.6%

3 BR$1,480▼ 1.3%

4 BR$1,630▼ 3.6%

FY2027 FY2026

Where 47720 sits in the Evansville, IN area

Of the 49 ZIP codes HUD lists for the area, 47720 has the 5th highest two-bedroom Small Area FMR. Evansville, 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 $1,127 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,200 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	$920	$828 – $1,012	$866	$940
1 bedroom	$930	$837 – $1,023	$872	$940
2 bedrooms	$1,200	$1,080 – $1,320	$1,127	$1,220
3 bedrooms	$1,480	$1,332 – $1,628	$1,387	$1,500
4 bedrooms	$1,630	$1,467 – $1,793	$1,534	$1,690

A household renting a two-bedroom home at the Small Area FMR of $1,200 needs about $48,000 a year to keep housing costs at 30% of income. The area median family income is $93,000 and the 80% low-income limit for four people is $74,400. ZIP code 47720 lies mainly in Vanderburgh County. See the Evansville, IN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47710	Evansville	4.4 mi	$1,070
47711	Evansville	6.6 mi	$1,140
47725	Evansville	7.0 mi	$1,650
47708	Evansville	7.1 mi	$1,320
47638	Wadesville	7.4 mi	$1,040
47639	Haubstadt	8.7 mi	$1,050

Questions

What is the Fair Market Rent for ZIP code 47720?

HUD's FY2027 Small Area Fair Market Rents for 47720 are $920 (studio), $930 (1 BR), $1,200 (2 BR), $1,480 (3 BR) and $1,630 (4 BR) a month.

What is the Section 8 payment standard in 47720?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47720 that range is $1,080 to $1,320 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47720?

The FY2026 income limits of the Evansville, IN area apply: median family income $93,000, low-income (80%) limit $74,400 for a family of four.