FY2026 Fair Market Rents — Shelby County
Studio
$1,118
1BR
$1,267
2BR
$1,473
3BR
$1,907
4BR
$2,338
Shelby County, Indiana
FIPS 18145 · County-level FMR and income limit data
FMR Area: Indianapolis, IN HUD Metro FMR Area
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 |
To afford the FY2026 2-bedroom FMR of $1,473/mo under the 30%-of-income rule, a household needs about
$58,920/yr ($4,910/mo). Area Median Income is $110,300.
At IN's federal minimum wage of $7.25/hr, a worker would need to work 157 hours/week to afford that rent.
Recent FMR Trend
| 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 |
FY2026 Income Limits
Area Median Income: $110,300
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $23,200 | $26,500 | $29,800 | $33,100 | $38,680 | $44,360 |
| 50% AMI | $38,650 | $44,150 | $49,650 | $55,150 | $59,600 | $64,000 |
| 80% AMI | $61,800 | $70,600 | $79,450 | $88,250 | $95,350 | $102,400 |