Indiana · FIPS 18021 · HUD FY 2027
Clay County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Clay County is $1,164 a month (rent plus utilities), 11% below the Indiana average of $1,302 and 34% below the U.S. average of $1,761. That is up $70 (6.4%) from FY 2026. At 30% of income, a household needs about $46,560 a year to afford it.
- $1,1642-bedroom FMR+$70 (+6.4%) vs FY 2026
- $8961-bedroom FMRIndiana: $1,082 · U.S.: $1,478
- $46,560Income for a 2-bedroom$22/hour full-time
- 31 of 922BR rank in Indiana1 = highest rent
| Unit | Clay County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $890 | $859 | +$31 (+3.6%) | $1,005 | $1,379 | $35,600 |
| 1 bedroom | $896 | $864 | +$32 (+3.7%) | $1,082 | $1,478 | $35,840 |
| 2 bedrooms | $1,164 | $1,094 | +$70 (+6.4%) | $1,302 | $1,761 | $46,560 |
| 3 bedrooms | $1,387 | $1,312 | +$75 (+5.7%) | $1,642 | $2,266 | $55,480 |
| 4 bedrooms | $1,610 | $1,535 | +$75 (+4.9%) | $1,904 | $2,607 | $64,400 |
How Clay County compares
- HUD sets this rent for the Terre Haute, IN metro FMR area, which covers 147,939 residents in 3 counties.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $890, $896, $1,164, $1,387, $1,610. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 10 ZIP codes mostly in Clay County (by land area), the 2-bedroom figure ranges from $1,010 to $1,300.
Small Area FMRs by ZIP code in Clay County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 47833 | $830 | $900 | $1,060 | $1,290 | $1,590 | +$50 (+5.0%) | 9% below |
| 47834 | $860 | $870 | $1,130 | $1,350 | $1,560 | +$90 (+8.7%) | 3% below |
| 47840 | $880 | $890 | $1,150 | $1,370 | $1,590 | +$110 (+10.6%) | 1% below |
| 47841 | $780 | $780 | $1,010 | $1,210 | $1,410 | +$50 (+5.2%) | 13% below |
| 47845 | $790 | $790 | $1,040 | $1,300 | $1,610 | +$70 (+7.2%) | 11% below |
| 47846 | $850 | $860 | $1,120 | $1,340 | $1,550 | +$80 (+7.7%) | 4% below |
| 47853 | $990 | $1,000 | $1,300 | $1,550 | $1,800 | +$90 (+7.4%) | 12% above |
| 47857 | $780 | $780 | $1,010 | $1,210 | $1,410 | +$50 (+5.2%) | 13% below |
| 47858 | $810 | $820 | $1,060 | $1,300 | $1,560 | +$60 (+6.0%) | 9% below |
| 47881 | $810 | $820 | $1,060 | $1,260 | $1,470 | +$20 (+1.9%) | 9% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.