FY2027 Small Area FMR · New Market, IN

ZIP 47965 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 47965 (New Market, IN) is $1,100 a month, up 2.8% from FY2026. That is 5% above the Montgomery County, IN area-wide FMR of $1,046.

2-bedroom SAFMR$1,100per month ▲ 2.8%

Area-wide 2 BR FMR$1,046Montgomery County, IN

Rank in the area13thof 18 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$990

2 BR Small Area FMR$1,100

110% of SAFMR$1,210

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

Studio$940▲ 5.6%

1 BR$950▲ 6.7%

2 BR$1,100▲ 2.8%

3 BR$1,420■ 0.0%

4 BR$1,530▼ 1.3%

FY2027 FY2026

Where 47965 sits in the Montgomery County, IN area

Of the 18 ZIP codes HUD lists for the area, 47965 has the 13th highest two-bedroom Small Area FMR. Montgomery 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 $1,046 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,100 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	$895	$890
1 bedroom	$950	$855 – $1,045	$900	$890
2 bedrooms	$1,100	$990 – $1,210	$1,046	$1,070
3 bedrooms	$1,420	$1,278 – $1,562	$1,351	$1,420
4 bedrooms	$1,530	$1,377 – $1,683	$1,459	$1,550

A household renting a two-bedroom home at the Small Area FMR of $1,100 needs about $44,000 a year to keep housing costs at 30% of income. The area median family income is $96,600 and the 80% low-income limit for four people is $77,300. ZIP code 47965 lies mainly in Montgomery County. See the Montgomery County, IN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
47933	Crawfordsville	6.0 mi	$1,110
47954	Ladoga	6.6 mi	$1,090
47916	Alamo	7.4 mi	$1,110
47989	Waveland	8.1 mi	$1,010
47968	New Ross	9.0 mi	$1,250
46175	Russellville	9.9 mi	$1,080

Questions

What is the Fair Market Rent for ZIP code 47965?

HUD's FY2027 Small Area Fair Market Rents for 47965 are $940 (studio), $950 (1 BR), $1,100 (2 BR), $1,420 (3 BR) and $1,530 (4 BR) a month.

What is the Section 8 payment standard in 47965?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 47965 that range is $990 to $1,210 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 47965?

The FY2026 income limits of the Montgomery County, IN area apply: median family income $96,600, low-income (80%) limit $77,300 for a family of four.