HUD publishes Fair Market Rent for 891 ZIP codes across 71 HUD FMR areas in IN. Two-bedroom FMR ranges from $1,010 to $2,300.
| Bedrooms | Average FY2027 FMR |
|---|---|
| Studio | $931 |
| 1 bedroom | $986 |
| 2 bedroom | $1,212 |
| 3 bedroom | $1,525 |
| 4 bedroom | $1,746 |
Across the 891 IN ZIP codes present in both years, the average two-bedroom Fair Market Rent increased from $1,145 to $1,212, a change of +$67 (+5.9%). Payment standards follow FMR, so an increase generally raises the ceiling a voucher can cover in IN.
IN is divided into 71 HUD FMR areas. Each sets its own rent standard, so the ceiling a voucher can cover changes depending on which area a unit sits in.
| FMR Area | ZIP Codes | Avg 2BR | 2BR Range |
|---|---|---|---|
| Indianapolis-Carmel | 105 | $1,579 | $1,010 - $2,300 |
| Anderson | 8 | $1,439 | $1,140 - $1,900 |
| Gary | 47 | $1,411 | $1,070 - $2,020 |
| Decatur County | 4 | $1,385 | $1,070 - $1,560 |
| Michigan City-La Porte | 12 | $1,368 | $1,070 - $1,870 |
| Columbus | 6 | $1,367 | $1,280 - $1,580 |
| South Bend-Mishawaka | 25 | $1,307 | $1,170 - $1,910 |
| Tipton County | 4 | $1,293 | $1,230 - $1,470 |
| Fort Wayne | 44 | $1,293 | $1,040 - $1,870 |
| Jasper County | 5 | $1,280 | $1,180 - $1,350 |
| Elkhart-Goshen | 7 | $1,270 | $1,230 - $1,330 |
| Kokomo | 8 | $1,229 | $1,180 - $1,380 |
| Bloomington | 10 | $1,219 | $1,090 - $1,290 |
| Henry County | 17 | $1,216 | $1,010 - $1,520 |
| Muncie | 11 | $1,195 | $1,010 - $1,410 |
| Rush County | 17 | $1,195 | $1,010 - $2,030 |
| Lafayette-West Lafayette | 18 | $1,187 | $1,010 - $1,320 |
| Putnam County | 17 | $1,171 | $1,010 - $2,070 |
| Fayette County | 2 | $1,165 | $1,010 - $1,320 |
| Wells County | 7 | $1,161 | $1,010 - $1,450 |
| White County | 19 | $1,160 | $1,010 - $1,480 |
| Jackson County | 5 | $1,160 | $1,010 - $1,560 |
| Pulaski County | 4 | $1,160 | $1,010 - $1,360 |
| Sullivan County | 10 | $1,160 | $1,010 - $1,370 |
| Franklin County | 6 | $1,157 | $1,010 - $1,270 |
| Montgomery County | 14 | $1,154 | $1,010 - $1,280 |
| Kosciusko County | 11 | $1,152 | $1,030 - $1,230 |
| Scott County | 8 | $1,146 | $1,010 - $1,510 |
| Clinton County | 12 | $1,143 | $1,040 - $1,320 |
| Evansville | 36 | $1,141 | $1,010 - $1,320 |
| LaGrange County | 7 | $1,133 | $1,040 - $1,340 |
| Gibson County | 13 | $1,132 | $1,010 - $1,650 |
| Ripley County | 11 | $1,122 | $1,010 - $1,400 |
| Noble County | 18 | $1,118 | $1,010 - $1,510 |
| Jennings County | 11 | $1,116 | $1,010 - $1,300 |
| Grant County | 13 | $1,112 | $1,010 - $1,270 |
| Terre Haute | 32 | $1,111 | $1,010 - $1,300 |
| Spencer County | 18 | $1,108 | $1,010 - $1,470 |
| DeKalb County | 6 | $1,105 | $1,010 - $1,290 |
| Starke County | 10 | $1,100 | $1,010 - $1,250 |
| Parke County | 9 | $1,099 | $1,010 - $1,360 |
| Marshall County | 11 | $1,097 | $1,030 - $1,170 |
| Owen County | 3 | $1,097 | $1,010 - $1,270 |
| Jefferson County | 1 | $1,090 | $1,090 - $1,090 |
| Randolph County | 9 | $1,089 | $1,010 - $1,270 |
| Wayne County | 21 | $1,088 | $1,010 - $1,410 |
| Steuben County | 10 | $1,082 | $1,010 - $1,240 |
| Miami County | 10 | $1,081 | $1,010 - $1,320 |
| Daviess County | 4 | $1,080 | $1,010 - $1,170 |
| Orange County | 11 | $1,070 | $1,010 - $1,250 |
| Crawford County | 5 | $1,068 | $1,010 - $1,220 |
| Union County | 2 | $1,065 | $1,010 - $1,120 |
| Lawrence County | 9 | $1,064 | $1,010 - $1,160 |
| Fountain County | 6 | $1,063 | $1,010 - $1,210 |
| Switzerland County | 10 | $1,061 | $1,010 - $1,220 |
| Fulton County | 6 | $1,060 | $1,010 - $1,210 |
| Huntington County | 7 | $1,060 | $1,010 - $1,140 |
| Wabash County | 18 | $1,060 | $1,010 - $1,200 |
| Pike County | 11 | $1,059 | $1,010 - $1,160 |
| Adams County | 10 | $1,055 | $1,010 - $1,190 |
| Perry County | 11 | $1,055 | $1,010 - $1,240 |
| Greene County | 14 | $1,053 | $1,010 - $1,170 |
| Jay County | 7 | $1,049 | $1,010 - $1,220 |
| Knox County | 13 | $1,048 | $1,010 - $1,220 |
| Warren County | 3 | $1,047 | $1,010 - $1,080 |
| Dubois County | 6 | $1,045 | $1,010 - $1,160 |
| Washington County | 6 | $1,038 | $1,010 - $1,080 |
| Carroll County | 7 | $1,037 | $1,010 - $1,120 |
| Martin County | 5 | $1,032 | $1,010 - $1,070 |
| Cass County | 7 | $1,021 | $1,010 - $1,040 |
| Blackford County | 1 | $1,010 | $1,010 - $1,010 |
| ZIP | FMR Area | 2BR FMR |
|---|---|---|
| 46075 | Indianapolis-Carmel | $2,300 |
| 46278 | Indianapolis-Carmel | $2,300 |
| 46236 | Indianapolis-Carmel | $2,300 |
| 46184 | Indianapolis-Carmel | $2,280 |
| 46077 | Indianapolis-Carmel | $2,230 |
| 46204 | Indianapolis-Carmel | $2,220 |
| 46280 | Indianapolis-Carmel | $2,180 |
| 46033 | Indianapolis-Carmel | $2,160 |
| 46032 | Indianapolis-Carmel | $2,140 |
| 46074 | Indianapolis-Carmel | $2,120 |
| 46055 | Indianapolis-Carmel | $2,090 |
| 46165 | Putnam County | $2,070 |
| 46106 | Indianapolis-Carmel | $2,040 |
| 46182 | Rush County | $2,030 |
| 46037 | Indianapolis-Carmel | $2,020 |
| 46301 | Gary | $2,020 |
| 46038 | Indianapolis-Carmel | $1,990 |
| 46231 | Indianapolis-Carmel | $1,980 |
| 46202 | Indianapolis-Carmel | $1,980 |
| 46082 | Indianapolis-Carmel | $1,960 |
| 46061 | Indianapolis-Carmel | $1,960 |
| 46290 | Indianapolis-Carmel | $1,940 |
| 46530 | South Bend-Mishawaka | $1,910 |
| 46123 | Indianapolis-Carmel | $1,910 |
| 46048 | Anderson | $1,900 |
| ZIP | FMR Area | 2BR FMR |
|---|---|---|
| 46772 | Adams County | $1,010 |
| 47863 | Terre Haute | $1,010 |
| 47885 | Terre Haute | $1,010 |
| 47879 | Sullivan County | $1,010 |
| 47857 | Terre Haute | $1,010 |
| 47167 | Washington County | $1,010 |
| 47997 | Carroll County | $1,010 |
| 47847 | Terre Haute | $1,010 |
| 47876 | Terre Haute | $1,010 |
| 47427 | Terre Haute | $1,010 |
| 47305 | Muncie | $1,010 |
| 46781 | Wells County | $1,010 |
| 47431 | Owen County | $1,010 |
| 47016 | Franklin County | $1,010 |
| 47455 | Owen County | $1,010 |
| 47620 | Evansville | $1,010 |
| 47164 | Washington County | $1,010 |
| 47948 | Lafayette-West Lafayette | $1,010 |
| 47841 | Terre Haute | $1,010 |
| 47991 | Warren County | $1,010 |
| 47942 | Lafayette-West Lafayette | $1,010 |
| 46915 | Carroll County | $1,010 |
| 47433 | Indianapolis-Carmel | $1,010 |
| 47115 | Washington County | $1,010 |
| 46780 | Adams County | $1,010 |
Fair Market Rent is not what a family pays and not what the voucher pays. The housing authority sets a payment standard from it, normally 90% to 110% of FMR. How voucher amounts are calculated.
Source: US Department of Housing and Urban Development, FY2027 Fair Market Rents.
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