HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Ripley County, Indiana (FY 2027)
$1,053 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Ripley County, and it's the baseline every voucher in Ripley is measured against.
Two-bedroom FMR
$1,053
+6.7% from FY 2026
Payment standard
$948–$1,158
90% to 110% of the FMR, two-bedroom
Income to afford
$42,120
a year, with rent at 30% of income
Rank in Indiana
51st of 92
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $788 | $709–$867 | $31,520 | $15.15/hr | +15.7% |
| 1 bedroom | $805 | $725–$886 | $32,200 | $15.48/hr | +7.0% |
| 2 bedroom | $1,053 | $948–$1,158 | $42,120 | $20.25/hr | +6.7% |
| 3 bedroom | $1,363 | $1,227–$1,499 | $54,520 | $26.21/hr | +4.7% |
| 4 bedroom | $1,384 | $1,246–$1,522 | $55,360 | $26.62/hr | +5.9% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,592 | $1,433–$1,751 |
| 6 bedroom Estimate | $1,799 | $1,619–$1,979 |
| 7 bedroom Estimate | $2,007 | $1,806–$2,208 |
| 8 bedroom Estimate | $2,214 | $1,993–$2,435 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Ripley actually rent for?
Search any address in Ripley for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Ripley somewhere between $948 and $1,158. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,053 a month is affordable, by HUD's 30% rule, on an income of roughly $42,120 a year. Put another way, $20 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$948 | Voucher pays at 100%$1,053 | Voucher pays at 110%$1,158 |
|---|---|---|---|---|
| $2,500 | $750 | $198 | $303 | $408 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 7% from FY 2026 ($987) to FY 2027 ($1,053). Since FY 2020 it's up 47% in total, about 5.7% a year. The Indiana median moved up 8% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $471 | $575 | $714 | $938 | $1,017 | — |
| FY 2021 | $493 | $576 | $732 | $979 | $1,050 | +2.5% |
| FY 2022 | $497 | $563 | $741 | $969 | $1,041 | +1.2% |
| FY 2023 | $583 | $642 | $845 | $1,139 | $1,247 | +14.0% |
| FY 2024 | $617 | $673 | $884 | $1,216 | $1,282 | +4.6% |
| FY 2025 | $677 | $720 | $944 | $1,323 | $1,335 | +6.8% |
| FY 2026 | $681 | $752 | $987 | $1,302 | $1,307 | +4.6% |
| FY 2027In effect | $788 | $805 | $1,053 | $1,363 | $1,384 | +6.7% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Ripley, that runs from $788 for a studio up to $1,384 for four bedrooms, all five rates in the table above.
Because Ripley sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Batesville included.
Among Indiana's 92 counties, Ripley ranks 51st for two-bedroom FMR. That's about 3% below the state median of $1,086 and within a couple percent of the national median county at $1,063. About 29,095 people live here, 55th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,010 in 47042 (Versailles) and $1,210 in 47023 (Holton), with the 10 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 47006 | Batesville | $1,110 | +5.4% |
| 47017 | Cross Plains | $1,070 | +1.6% |
| 47021 | Friendship | $1,050 | -0.3% |
| 47023 | Holton | $1,210 | +14.9% |
| 47031 | Milan | $1,180 | +12.1% |
| 47033 | Morris | $1,050 | -0.3% |
| 47034 | Napoleon | $1,070 | +1.6% |
| 47037 | Osgood | $1,040 | -1.2% |
| 47039 | Pierceville | $1,053County rate | — |
| 47041 | Sunman | $1,170 | +11.1% |
| 47042 | Versailles | $1,010 | -4.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Ripley.
Dearborn County
14 mi · 51,094 people
$1,442
+37%
Decatur County
19 mi · 26,422 people
$1,112
+6%
Ohio County
22 mi · 5,999 people
$1,442
+37%
Franklin County
24 mi · 23,020 people
$1,148
+9%
Switzerland County
24 mi · 9,909 people
$1,029
-2%
Jennings County
25 mi · 27,562 people
$1,040
-1%
Jefferson County
26 mi · 32,998 people
$1,041
-1%
Bartholomew County
34 mi · 83,536 people
$1,493
+42%
Questions people ask
$1,053 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $788 for a studio, $805 for one bedroom, $1,363 for three and $1,384 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Ripley actually go for?
HUD's number is one input. Search any address in Ripley for a rent estimate built from nearby comps. Free to start, no card.
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