FY2027 Small Area FMR · Morocco, IN

ZIP 47963 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47963 (Morocco, IN) is $1,070 a month, up 10.3% from FY2026. That is 25% below the Gary, IN area-wide FMR of $1,429.

2-bedroom SAFMR$1,070per month ▲ 10.3%

Area-wide 2 BR FMR$1,429Gary, IN

Rank in the area56thof 59 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$840▲ 18.3%

1 BR$880▲ 10.0%

2 BR$1,070▲ 10.3%

3 BR$1,300▲ 9.2%

4 BR$1,420▲ 10.9%

FY2027 FY2026

Where 47963 sits in the Gary, IN area

Of the 59 ZIP codes HUD lists for the area, 47963 has the 56th highest two-bedroom Small Area FMR. Gary, IN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $963 and $1,177 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$840	$756 – $924	$1,117	$710
1 bedroom	$880	$792 – $968	$1,176	$800
2 bedrooms	$1,070	$963 – $1,177	$1,429	$970
3 bedrooms	$1,300	$1,170 – $1,430	$1,739	$1,190
4 bedrooms	$1,420	$1,278 – $1,562	$1,898	$1,280

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $100,900 and the 80% low-income limit for four people is $80,700. ZIP code 47963 lies mainly in Newton County. See the Gary, IN metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47964	Mount Ayr	7.3 mi	$1,120
46349	Lake Village	7.9 mi	$1,200
47922	Brook	8.6 mi	$1,310
60912	Beaverville	9.0 mi	$930
47943	Fair Oaks	9.9 mi	$1,240
60958	Pembroke Township	10.0 mi	$1,200

Questions

What is the Fair Market Rent for ZIP code 47963?

HUD's FY2027 Small Area Fair Market Rents for 47963 are $840 (studio), $880 (1 BR), $1,070 (2 BR), $1,300 (3 BR) and $1,420 (4 BR) a month.

What is the Section 8 payment standard in 47963?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47963 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47963?

The FY2026 income limits of the Gary, IN area apply: median family income $100,900, low-income (80%) limit $80,700 for a family of four.