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)
National rank
#198
of 661 U.S. metros (top 31% most expensive)
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

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

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

Boone County Brown County Hamilton County Hancock County Hendricks County Johnson County Marion County Morgan County Shelby County

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