What is the Fair Market Rent for a 2-bedroom in Gary, IN HUD Metro FMR Area?

The HUD Fair Market Rent for a 2-bedroom unit in Gary, IN HUD Metro FMR Area is $1,317 per month for fiscal year 2026. The studio FMR is $959, 1-bedroom is $1,082, 3-bedroom is $1,612, and 4-bedroom is $1,744.

What income do you need to afford the FMR in Gary, IN HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $52,680 per year ($4,390 per month) to afford the FY2026 2-bedroom Fair Market Rent of $1,317 in Gary, IN HUD Metro FMR Area.

FY2026 Fair Market Rents — Gary, IN HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2026 in this area are:

Studio

$959

1BR

$1,082

2BR

$1,317

3BR

$1,612

4BR

$1,744

Hours/week at min wage

140 hrs

to afford the 2BR FMR @ $7.25/hr (federal)

YoY change (2BR)

+10%

+$120 vs FY2025 · 5-yr +42.7%

Voucher payment standard

$1,185–$1,449

PHAs set HCV payment at 90–110% of the 2BR FMR

Gary, IN HUD Metro FMR Area

Non-Metropolitan area · IN · View full history · Income limits · LIHTC rents

FY2026 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$959	$11,508
1-Bedroom	$1,082	$12,984
2-Bedroom	$1,317	$15,804
3-Bedroom	$1,612	$19,344
4-Bedroom	$1,744	$20,928

Recent 2-Bedroom FMR Trend

FY2020 $917 → FY2026 $1,317

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2026	$959	$1,082	$1,317	$1,612	$1,744
FY2025	$860	$985	$1,197	$1,475	$1,587
FY2024	$869	$1,027	$1,254	$1,539	$1,672
FY2023	$677	$815	$1,000	$1,227	$1,361
FY2022	$637	$779	$959	$1,185	$1,338
FY2021	$609	$749	$923	$1,148	$1,301
FY2020	$597	$746	$917	$1,143	$1,292

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $100,900

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$21,200	$24,200	$27,320	$33,000	$38,680	$44,360
50% AMI (Very Low)	$35,350	$40,400	$45,450	$50,450	$54,500	$58,550
80% AMI (Low)	$56,500	$64,600	$72,650	$80,700	$87,200	$93,650

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$15,804/yr

FMR as % of Area Median Income

15.7% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$52,680/yr

$4,390/mo gross income

FY2026 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band	Studio	1BR	2BR	3BR	4BR
50% AMI Maximum	$882	$1,009	$1,135	$1,362	$1,463
60% AMI Maximum	$1,059	$1,210	$1,362	$1,634	$1,755

FY2026 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type	Studio	1BR	2BR	3BR	4BR
High HOME Rent	$959	$1,082	$1,317	$1,612	$1,639
Low HOME Rent	$883	$1,010	$1,136	$1,261	$1,362

Small Area FMRs by ZIP Code

This metro publishes ZIP-level Small Area Fair Market Rents. Metro-wide 2BR FMR: $1,317. About SAFMRs →

Highest-cost ZIPs (2BR SAFMR)

46321	$1,680
46410	$1,590
46307	$1,510
46390	$1,490
46375	$1,480

Lowest-cost ZIPs (2BR SAFMR)

47942	$960
47948	$960
47963	$970
47951	$980
47964	$1,010

All 59 ZIP codes in this area

46301 46302 46303 46304 46307 46308 46310 46311 46312 46319 46320 46321 46322 46323 46324 46325 46327 46341 46342 46347 46348 46349 46355 46356 46360 46368 46372 46373 46375 46376 46377 46379 46381 46383 46384 46385 46390 46391 46393 46394 46401 46402 46403 46404 46405 46406 46407 46408 46409 46410 46411 47922 47942 47943 47948 47951 47963 47964 47978

Compare Gary, IN HUD Metro FMR Area With Other IN Metros

vs. Anderson, IN HUD Metro FMR Area vs. Bloomington, IN HUD Metro FMR Area vs. Carroll County, IN HUD Metro FMR Area vs. Cincinnati, OH-KY-IN HUD Metro FMR Area vs. Columbus, IN MSA