FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 47880
0.98ratio
FMR$800
Market$820
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR- 47880
1.12ratio
FMR$1,040
Market$930
vs market+$110
FMR is above market; underwrite to market rent.
1.12
3 BR
3 BR- 47880
1.19ratio
FMR$1,240
Market$1,040
vs market+$200
FMR is above market; underwrite to market rent.
1.19
4 BR
4 BR- 47880
1.36ratio
FMR$1,440
Market$1,060
vs market+$380
FMR is above market; underwrite to market rent.
1.36
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Shepardsville, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shepardsville, IN is $1,040 a month. That is up 5.1% from $990 in FY 2026. Shepardsville 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 Shepardsville is 4% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Shepardsville, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$780
$800
+2.6%
$720–$880
1BR
$790
$800
+1.3%
$720–$880
2BR
$990
$1,040
+5.1%
$936–$1,144
3BR
$1,190
$1,240
+4.2%
$1,116–$1,364
4BR
$1,390
$1,440
+3.6%
$1,296–$1,584
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Shepardsville, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$800
$1,040
$1,240
$1,440
FY 2026
$780
$790
$990
$1,190
$1,390
FY 2025
$730
$730
$930
$1,120
$1,300
FY 2024
$670
$690
$870
$1,050
$1,270
FY 2023
$620
$660
$830
$1,010
$1,240
Questions about Shepardsville, IN rents
How much will Section 8 pay for a two-bedroom in Shepardsville, 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 $1,040 it would be $936 to $1,144. 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 Shepardsville, IN in?
Shepardsville, 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 Shepardsville, IN for FY 2027?
The two-bedroom FMR rose 5.1%, from $990 in FY 2026 to $1,040 in FY 2027. Since FY 2023 it has risen 25.3%.
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