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

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

Studio
$1,118
1BR
$1,267
2BR
$1,473
3BR
$1,907
4BR
$2,338
Hours/week at min wage
157 hrs
to afford the 2BR FMR @ $7.25/hr (federal)
YoY change (2BR)
+14.8%
+$190 vs FY2025 · 5-yr +55.7%
Voucher payment standard
$1,326–$1,620
PHAs set HCV payment at 90–110% of the 2BR FMR

Indianapolis, 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) $1,118 $13,416
1-Bedroom $1,267 $15,204
2-Bedroom $1,473 $17,676
3-Bedroom $1,907 $22,884
4-Bedroom $2,338 $28,056

Recent 2-Bedroom FMR Trend

FY2020 $946 → FY2026 $1,473
Fiscal Year Studio 1BR 2BR 3BR 4BR
FY2026 $1,118 $1,267 $1,473 $1,907 $2,338
FY2025 $955 $1,097 $1,283 $1,669 $2,028
FY2024 $982 $1,145 $1,349 $1,758 $2,126
FY2023 $771 $897 $1,065 $1,397 $1,671
FY2022 $677 $782 $939 $1,231 $1,456
FY2021 $678 $781 $946 $1,248 $1,455
FY2020 $674 $778 $946 $1,256 $1,439

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $110,300

AMI Level 1p 2p 3p 4p 5p 6p
30% AMI (Extremely Low) $23,200 $26,500 $29,800 $33,100 $38,680 $44,360
50% AMI (Very Low) $38,650 $44,150 $49,650 $55,150 $59,600 $64,000
80% AMI (Low) $61,800 $70,600 $79,450 $88,250 $95,350 $102,400

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR
$17,676/yr
FMR as % of Area Median Income
16% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$58,920/yr
$4,910/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 $965 $1,103 $1,240 $1,489 $1,599
60% AMI Maximum $1,158 $1,323 $1,489 $1,786 $1,919

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 $1,118 $1,267 $1,473 $1,792 $1,792
Low HOME Rent $966 $1,103 $1,241 $1,378 $1,490

Small Area FMRs by ZIP Code

This metro publishes ZIP-level Small Area Fair Market Rents. Metro-wide 2BR FMR: $1,473. About SAFMRs →

Highest-cost ZIPs (2BR SAFMR)

46184 $2,200
46204 $2,170
46075 $2,150
46077 $2,120
46236 $2,120

Lowest-cost ZIPs (2BR SAFMR)

46035 $1,100
46036 $1,100
46041 $1,100
46050 $1,100
46115 $1,100
All 136 ZIP codes in this area
46011 46030 46031 46032 46033 46034 46035 46036 46037 46038 46040 46041 46049 46050 46052 46055 46056 46060 46061 46062 46064 46069 46071 46072 46074 46075 46077 46082 46102 46103 46106 46107 46110 46111 46112 46113 46115 46117 46118 46120 46121 46122 46123 46124 46125 46126 46130 46131 46140 46142 46143 46144 46147 46148 46149 46150 46151 46154 46157 46158 46160 46161 46162 46163 46164 46165 46166 46167 46168 46176 46180 46181 46182 46183 46184 46186 46201 46202 46203 46204 46205 46206 46208 46214 46216 46217 46218 46219 46220 46221 46222 46224 46225 46226 46227 46228 46229 46230 46231 46234 46235 46236 46237 46239 46240 46241 46242 46244 46247 46250 46251 46253 46254 46256 46259 46260 46268 46278 46280 46282 46290 47201 47234 47235 47240 47272 47274 47384 47401 47433 47435 47448 47456 47468 47933 47968

Compare Indianapolis, 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

Counties in This FMR Area

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