FY2027 Small Area FMR · Montezuma, IN

ZIP 47862 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47862 (Montezuma, IN) is $1,160 a month, up 11.5% from FY2026. That is 14% above the Parke County, IN area-wide FMR of $1,014.

2-bedroom SAFMR$1,160per month ▲ 11.5%

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

Rank in the area3rdof 14 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,044

2 BR Small Area FMR$1,160

110% of SAFMR$1,276

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

Studio$870▲ 13.0%

1 BR$890▲ 12.7%

2 BR$1,160▲ 11.5%

3 BR$1,520▲ 10.9%

4 BR$1,520▲ 10.1%

FY2027 FY2026

Where 47862 sits in the Parke County, IN area

Of the 14 ZIP codes HUD lists for the area, 47862 has the 3rd highest two-bedroom Small Area FMR. Parke 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 $1,160 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	$759	$770
1 bedroom	$890	$801 – $979	$775	$790
2 bedrooms	$1,160	$1,044 – $1,276	$1,014	$1,040
3 bedrooms	$1,520	$1,368 – $1,672	$1,328	$1,370
4 bedrooms	$1,520	$1,368 – $1,672	$1,333	$1,380

A household renting a two-bedroom home at the Small Area FMR of $1,160 needs about $46,400 a year to keep housing costs at 30% of income. The area median family income is $78,000 and the 80% low-income limit for four people is $67,850. ZIP code 47862 lies mainly in Parke County. See the Parke County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47860	Mecca	3.2 mi	$1,010
47854	Hillsdale	4.1 mi	$1,100
47966	Newport	8.7 mi	$1,040
47847	Dana	8.8 mi	$1,010
47842	Clinton	8.9 mi	$1,070
47832	Bloomingdale	9.0 mi	$1,190

Questions

What is the Fair Market Rent for ZIP code 47862?

HUD's FY2027 Small Area Fair Market Rents for 47862 are $870 (studio), $890 (1 BR), $1,160 (2 BR), $1,520 (3 BR) and $1,520 (4 BR) a month.

What is the Section 8 payment standard in 47862?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47862 that range is $1,044 to $1,276 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47862?

The FY2026 income limits of the Parke County, IN area apply: median family income $78,000, low-income (80%) limit $67,850 for a family of four.