FY2026 Fair Market Rents — Franklin County
Studio
$796
1BR
$861
2BR
$1,117
3BR
$1,473
4BR
$1,479
Franklin County, Indiana
FIPS 18047 · County-level FMR and income limit data
FMR Area: Franklin County, IN HUD Metro FMR Area
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $796 | $9,552 |
| 1-Bedroom | $861 | $10,332 |
| 2-Bedroom | $1,117 | $13,404 |
| 3-Bedroom | $1,473 | $17,676 |
| 4-Bedroom | $1,479 | $17,748 |
To afford the FY2026 2-bedroom FMR of $1,117/mo under the 30%-of-income rule, a household needs about
$44,680/yr ($3,723/mo). Area Median Income is $97,400.
At IN's federal minimum wage of $7.25/hr, a worker would need to work 119 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $796 | $861 | $1,117 | $1,473 | $1,479 |
| FY2025 | $727 | $802 | $1,052 | $1,389 | $1,395 |
| FY2024 | $636 | $715 | $939 | $1,292 | $1,330 |
| FY2023 | $623 | $707 | $930 | $1,261 | $1,402 |
| FY2022 | $539 | $617 | $812 | $1,070 | $1,241 |
FY2026 Income Limits
Area Median Income: $97,400
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $20,450 | $23,400 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $34,100 | $39,000 | $43,850 | $48,700 | $52,600 | $56,500 |
| 80% AMI | $54,550 | $62,350 | $70,150 | $77,900 | $84,150 | $90,400 |