FY2027 Small Area FMR · Lafayette, IN

ZIP 47901 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47901 (Lafayette, IN) is $1,160 a month, up 2.7% from FY2026. That is 9% below the Lafayette-West Lafayette, IN area-wide FMR of $1,273.

2-bedroom SAFMR$1,160per month ▲ 2.7%

Area-wide 2 BR FMR$1,273Lafayette-West Lafayette, IN

Rank in the area18thof 34 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$860▲ 6.2%

1 BR$980▲ 4.3%

2 BR$1,160▲ 2.7%

3 BR$1,380▲ 2.2%

4 BR$1,940▲ 7.2%

FY2027 FY2026

Where 47901 sits in the Lafayette-West Lafayette, IN area

Of the 34 ZIP codes HUD lists for the area, 47901 has the 18th highest two-bedroom Small Area FMR. Lafayette-West Lafayette, 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 $1,273 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	$860	$774 – $946	$942	$810
1 bedroom	$980	$882 – $1,078	$1,070	$940
2 bedrooms	$1,160	$1,044 – $1,276	$1,273	$1,130
3 bedrooms	$1,380	$1,242 – $1,518	$1,517	$1,350
4 bedrooms	$1,940	$1,746 – $2,134	$2,128	$1,810

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 $100,000 and the 80% low-income limit for four people is $79,700. ZIP code 47901 lies mainly in Tippecanoe County. See the Lafayette-West Lafayette, IN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47907	West Lafayette	1.4 mi	$1,280
47904	Lafayette	1.6 mi	$1,150
47909	Lafayette	6.4 mi	$1,290
47905	Lafayette	6.5 mi	$1,320
47941	Dayton	6.7 mi	$1,130
47906	West Lafayette	6.8 mi	$1,350

Questions

What is the Fair Market Rent for ZIP code 47901?

HUD's FY2027 Small Area Fair Market Rents for 47901 are $860 (studio), $980 (1 BR), $1,160 (2 BR), $1,380 (3 BR) and $1,940 (4 BR) a month.

What is the Section 8 payment standard in 47901?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47901 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 47901?

The FY2026 income limits of the Lafayette-West Lafayette, IN area apply: median family income $100,000, low-income (80%) limit $79,700 for a family of four.