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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ZIP 46380 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 46380 (Tefft, IN) is $1,350 a month. That is up 15.4% from $1,170 in FY 2026. Tefft is in the Jasper County, 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 $1,349. Among 14 ZIP codes in Jasper County, 46380 has the 3rd-highest two-bedroom rent (county range $1,010–$1,480). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 46380 is 24% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 46380
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$890
$1,030
+15.7%
$927–$1,133
1BR
$890
$1,030
+15.7%
$927–$1,133
2BR
$1,170
$1,350
+15.4%
$1,215–$1,485
3BR
$1,530
$1,740
+13.7%
$1,566–$1,914
4BR
$1,550
$1,770
+14.2%
$1,593–$1,947
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 46380
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,030
$1,030
$1,350
$1,740
$1,770
FY 2026
$890
$890
$1,170
$1,530
$1,550
FY 2025
$880
$880
$1,160
$1,520
$1,540
FY 2024
$870
$880
$1,150
$1,500
$1,530
FY 2023
$740
$740
$980
$1,260
$1,320
Two-bedroom rent in nearby Jasper County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 46380?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,349, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,214 to $1,484 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. 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 ZIP 46380 in?
ZIP 46380 is in the Jasper County, IN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,349.
How much did fair market rent change in ZIP 46380 for FY 2027?
The two-bedroom FMR rose 15.4%, from $1,170 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 37.8%.
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