Indiana · FIPS 18105 · HUD FY 2027
Monroe County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Monroe County is $1,252 a month (rent plus utilities), 4% below the Indiana average of $1,302 and 29% below the U.S. average of $1,761. That is up $42 (3.5%) from FY 2026. At 30% of income, a household needs about $50,080 a year to afford it.
- $1,2522-bedroom FMR+$42 (+3.5%) vs FY 2026
- $1,0961-bedroom FMRIndiana: $1,082 · U.S.: $1,478
- $50,080Income for a 2-bedroom$24/hour full-time
- 25 of 922BR rank in Indiana1 = highest rent
| Unit | Monroe County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,001 | $966 | +$35 (+3.6%) | $1,005 | $1,379 | $40,040 |
| 1 bedroom | $1,096 | $1,072 | +$24 (+2.2%) | $1,082 | $1,478 | $43,840 |
| 2 bedrooms | $1,252 | $1,210 | +$42 (+3.5%) | $1,302 | $1,761 | $50,080 |
| 3 bedrooms | $1,601 | $1,572 | +$29 (+1.8%) | $1,642 | $2,266 | $64,040 |
| 4 bedrooms | $1,932 | $1,906 | +$26 (+1.4%) | $1,904 | $2,607 | $77,280 |
How Monroe County compares
- HUD sets this rent for the Bloomington, IN metro FMR area, which covers 140,965 residents in 1 county.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $1,001, $1,096, $1,252, $1,601, $1,932. 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 11 ZIP codes mostly in Monroe County (by land area), the 2-bedroom figure ranges from $1,090 to $1,290.
Small Area FMRs by ZIP code in Monroe County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 47401 | $1,030 | $1,130 | $1,290 | $1,650 | $1,990 | +$60 (+4.9%) | 3% above |
| 47403 | $940 | $1,020 | $1,170 | $1,500 | $1,810 | +$60 (+5.4%) | 7% below |
| 47404 | $1,020 | $1,110 | $1,270 | $1,620 | $1,960 | +$30 (+2.4%) | 1% above |
| 47405 | $1,020 | $1,110 | $1,270 | $1,620 | $1,960 | +$60 (+5.0%) | 1% above |
| 47406 | $1,010 | $1,110 | $1,270 | $1,620 | $1,950 | +$60 (+5.0%) | 1% above |
| 47408 | $1,010 | $1,100 | $1,260 | $1,610 | $1,940 | +$60 (+5.0%) | 1% above |
| 47429 | $870 | $970 | $1,090 | $1,420 | $1,720 | −$20 (−1.8%) | 13% below |
| 47434 | $940 | $1,020 | $1,170 | $1,500 | $1,810 | +$60 (+5.4%) | 7% below |
| 47458 | $1,030 | $1,130 | $1,290 | $1,650 | $1,990 | +$60 (+4.9%) | 3% above |
| 47464 | $870 | $970 | $1,090 | $1,420 | $1,720 | −$20 (−1.8%) | 13% below |
| 47468 | $990 | $1,100 | $1,260 | $1,620 | $1,970 | +$40 (+3.3%) | 1% above |
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.