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 47831 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 47831 (Blanford, IN) is $1,060 a month. That is up 6.0% from $1,000 in FY 2026. Blanford 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. Among 11 ZIP codes in Vermillion County, 47831 is tied for the 6th-highest two-bedroom rent (county range $1,010–$1,210). The median county two-bedroom FMR in Indiana is $1,086, so ZIP 47831 is 2% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 47831
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$790
$810
+2.5%
$729–$891
1BR
$790
$820
+3.8%
$738–$902
2BR
$1,000
$1,060
+6.0%
$954–$1,166
3BR
$1,200
$1,260
+5.0%
$1,134–$1,386
4BR
$1,400
$1,470
+5.0%
$1,323–$1,617
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 47831
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$810
$820
$1,060
$1,260
$1,470
FY 2026
$790
$790
$1,000
$1,200
$1,400
FY 2025
$730
$730
$930
$1,120
$1,300
FY 2024
$680
$700
$880
$1,060
$1,280
FY 2023
$620
$660
$830
$1,010
$1,240
Two-bedroom rent in nearby Vermillion County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 47831?
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 $1,060 it would be $954 to $1,166. 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 47831 in?
ZIP 47831 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 ZIP 47831 for FY 2027?
The two-bedroom FMR rose 6.0%, from $1,000 in FY 2026 to $1,060 in FY 2027. Since FY 2023 it has risen 27.7%.
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