FY2027 Small Area FMR · Fairbanks, IN

ZIP 47849 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47849 (Fairbanks, IN) is $1,260 a month, up 4.1% from FY2026. That is 18% above the Sullivan County, IN area-wide FMR of $1,067.

2-bedroom SAFMR$1,260per month ▲ 4.1%

Area-wide 2 BR FMR$1,067Sullivan County, IN

Rank in the area3rdof 16 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,134

2 BR Small Area FMR$1,260

110% of SAFMR$1,386

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

Studio$940▲ 6.8%

1 BR$970▲ 4.3%

2 BR$1,260▲ 4.1%

3 BR$1,580▲ 6.8%

4 BR$2,000▲ 8.1%

FY2027 FY2026

Where 47849 sits in the Sullivan County, IN area

Of the 16 ZIP codes HUD lists for the area, 47849 has the 3rd highest two-bedroom Small Area FMR. Sullivan 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 $1,067 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,260 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	$940	$846 – $1,034	$810	$880
1 bedroom	$970	$873 – $1,067	$816	$930
2 bedrooms	$1,260	$1,134 – $1,386	$1,067	$1,210
3 bedrooms	$1,580	$1,422 – $1,738	$1,370	$1,480
4 bedrooms	$2,000	$1,800 – $2,200	$1,783	$1,850

A household renting a two-bedroom home at the Small Area FMR of $1,260 needs about $50,400 a year to keep housing costs at 30% of income. The area median family income is $76,800 and the 80% low-income limit for four people is $67,850. ZIP code 47849 lies mainly in Sullivan County. See the Sullivan County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
62477	West Union	5.0 mi	$1,520
47869	Prairie Creek	6.5 mi	$1,190
47850	Farmersburg	7.9 mi	$1,370
47861	Merom	8.4 mi	$1,310
62478	West York	9.7 mi	$1,240
47879	Shelburn	9.9 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 47849?

HUD's FY2027 Small Area Fair Market Rents for 47849 are $940 (studio), $970 (1 BR), $1,260 (2 BR), $1,580 (3 BR) and $2,000 (4 BR) a month.

What is the Section 8 payment standard in 47849?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47849 that range is $1,134 to $1,386 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47849?

The FY2026 income limits of the Sullivan County, IN area apply: median family income $76,800, low-income (80%) limit $67,850 for a family of four.