Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Prairie Creek, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Prairie Creek, IN is $1,190 a month. That is down 7.0% from $1,280 in FY 2026. Prairie Creek is in the Terre Haute, IN HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,164. The median county two-bedroom FMR in Indiana is $1,086, so Prairie Creek is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Prairie Creek, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$960
$910
−5.2%
$819–$1,001
1BR
$990
$920
−7.1%
$828–$1,012
2BR
$1,280
$1,190
−7.0%
$1,071–$1,309
3BR
$1,560
$1,420
−9.0%
$1,278–$1,562
4BR
$2,080
$1,880
−9.6%
$1,692–$2,068
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Prairie Creek, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$920
$1,190
$1,420
$1,880
FY 2026
$960
$990
$1,280
$1,560
$2,080
FY 2025
$770
$850
$1,100
$1,330
$1,690
FY 2024
$700
$780
$1,010
$1,220
$1,370
FY 2023
$560
$630
$830
$1,010
$1,200
Questions about Prairie Creek, IN rents
How much will Section 8 pay for a two-bedroom in Prairie Creek, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,164, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,048 to $1,280 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Prairie Creek, IN in?
Prairie Creek, IN is in the Terre Haute, IN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,164.
How much did fair market rent change in Prairie Creek, IN for FY 2027?
The two-bedroom FMR fell 7.0%, from $1,280 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 43.4%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set