FY2027 Small Area FMR · Dayton, IN

ZIP 47941 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47941 (Dayton, IN) is $1,130 a month, unchanged from FY2026. That is 11% below the Lafayette-West Lafayette, IN area-wide FMR of $1,273.

2-bedroom SAFMR$1,130per month ■ 0.0%

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

Rank in the area20thof 34 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,017

2 BR Small Area FMR$1,130

110% of SAFMR$1,243

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

Studio$840▲ 3.7%

1 BR$950▲ 1.1%

2 BR$1,130■ 0.0%

3 BR$1,350■ 0.0%

4 BR$1,890▲ 4.4%

FY2027 FY2026

Where 47941 sits in the Lafayette-West Lafayette, IN area

Of the 34 ZIP codes HUD lists for the area, 47941 has the 20th 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 $1,130 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	$840	$756 – $924	$942	$810
1 bedroom	$950	$855 – $1,045	$1,070	$940
2 bedrooms	$1,130	$1,017 – $1,243	$1,273	$1,130
3 bedrooms	$1,350	$1,215 – $1,485	$1,517	$1,350
4 bedrooms	$1,890	$1,701 – $2,079	$2,128	$1,810

A household renting a two-bedroom home at the Small Area FMR of $1,130 needs about $45,200 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 47941 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
47905	Lafayette	3.1 mi	$1,320
47983	Stockwell	6.7 mi	$1,290
47901	Lafayette	6.7 mi	$1,160
46058	Mulberry	6.7 mi	$1,120
47904	Lafayette	6.9 mi	$1,150
47909	Lafayette	7.4 mi	$1,290

Questions

What is the Fair Market Rent for ZIP code 47941?

HUD's FY2027 Small Area Fair Market Rents for 47941 are $840 (studio), $950 (1 BR), $1,130 (2 BR), $1,350 (3 BR) and $1,890 (4 BR) a month.

What is the Section 8 payment standard in 47941?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47941 that range is $1,017 to $1,243 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47941?

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.