Indiana · FIPS 18063 · HUD FY 2027
Hendricks County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Hendricks County is $1,536 a month (rent plus utilities), 18% above the Indiana average of $1,302 and 13% below the U.S. average of $1,761. That is up $63 (4.3%) from FY 2026. At 30% of income, a household needs about $61,440 a year to afford it.
- $1,5362-bedroom FMR+$63 (+4.3%) vs FY 2026
- $1,3361-bedroom FMRIndiana: $1,082 · U.S.: $1,478
- $61,440Income for a 2-bedroom$30/hour full-time
- 1 of 922BR rank in Indiana1 = highest rent
| Unit | Hendricks County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,187 | $1,118 | +$69 (+6.2%) | $1,005 | $1,379 | $47,480 |
| 1 bedroom | $1,336 | $1,267 | +$69 (+5.4%) | $1,082 | $1,478 | $53,440 |
| 2 bedrooms | $1,536 | $1,473 | +$63 (+4.3%) | $1,302 | $1,761 | $61,440 |
| 3 bedrooms | $1,991 | $1,907 | +$84 (+4.4%) | $1,642 | $2,266 | $79,640 |
| 4 bedrooms | $2,425 | $2,338 | +$87 (+3.7%) | $1,904 | $2,607 | $97,000 |
How Hendricks County compares
- HUD sets this rent for the Indianapolis-Carmel, IN metro FMR area, which covers 1,982,809 residents in 9 counties.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $1,187, $1,336, $1,536, $1,991, $2,425. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 12 ZIP codes mostly in Hendricks County (by land area), the 2-bedroom figure ranges from $1,220 to $2,070.
Small Area FMRs by ZIP code in Hendricks County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 46103 | $1,040 | $1,170 | $1,340 | $1,740 | $2,120 | −$90 (−6.3%) | 13% below |
| 46112 | $1,420 | $1,600 | $1,840 | $2,390 | $2,900 | +$100 (+5.7%) | 20% above |
| 46118 | $940 | $1,060 | $1,220 | $1,580 | $1,930 | −$20 (−1.6%) | 21% below |
| 46121 | $1,120 | $1,280 | $1,480 | $1,990 | $2,390 | +$60 (+4.2%) | 4% below |
| 46122 | $1,160 | $1,300 | $1,500 | $1,940 | $2,370 | +$70 (+4.9%) | 2% below |
| 46123 | $1,480 | $1,660 | $1,910 | $2,480 | $3,010 | +$60 (+3.2%) | 24% above |
| 46149 | $1,170 | $1,310 | $1,510 | $1,960 | $2,380 | +$10 (+0.7%) | 2% below |
| 46165 | $1,590 | $1,790 | $2,070 | $2,700 | $3,280 | +$260 (+14.4%) | 35% above |
| 46167 | $1,090 | $1,230 | $1,410 | $1,830 | $2,230 | −$20 (−1.4%) | 8% below |
| 46168 | $1,350 | $1,510 | $1,740 | $2,260 | $2,750 | +$130 (+8.1%) | 13% above |
| 46231 | $1,530 | $1,720 | $1,980 | $2,570 | $3,130 | −$60 (−2.9%) | 29% above |
| 46234 | $1,430 | $1,610 | $1,850 | $2,400 | $2,920 | +$70 (+3.9%) | 20% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.