Indiana · FIPS 18065 · HUD FY 2027
Henry County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Henry County is $1,014 a month (rent plus utilities), 22% below the Indiana average of $1,302 and 42% below the U.S. average of $1,761. That is up $58 (6.1%) from FY 2026. At 30% of income, a household needs about $40,560 a year to afford it.
- $1,0142-bedroom FMR+$58 (+6.1%) vs FY 2026
- $8101-bedroom FMRIndiana: $1,082 · U.S.: $1,478
- $40,560Income for a 2-bedroom$20/hour full-time
- 63 of 922BR rank in Indiana1 = highest rent
| Unit | Henry County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $805 | $771 | +$34 (+4.4%) | $1,005 | $1,379 | $32,200 |
| 1 bedroom | $810 | $775 | +$35 (+4.5%) | $1,082 | $1,478 | $32,400 |
| 2 bedrooms | $1,014 | $956 | +$58 (+6.1%) | $1,302 | $1,761 | $40,560 |
| 3 bedrooms | $1,208 | $1,146 | +$62 (+5.4%) | $1,642 | $2,266 | $48,320 |
| 4 bedrooms | $1,333 | $1,266 | +$67 (+5.3%) | $1,904 | $2,607 | $53,320 |
How Henry County compares
- Henry County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $805, $810, $1,014, $1,208, $1,333. 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 15 ZIP codes mostly in Henry County (by land area), the 2-bedroom figure ranges from $1,010 to $1,520.
Small Area FMRs by ZIP code in Henry County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 46148 | $870 | $880 | $1,110 | $1,320 | $1,560 | +$10 (+0.9%) | 9% above |
| 47337 | $1,140 | $1,150 | $1,440 | $1,720 | $1,890 | +$90 (+6.7%) | 42% above |
| 47344 | $830 | $830 | $1,040 | $1,240 | $1,360 | +$80 (+8.3%) | 3% above |
| 47351 | $1,020 | $1,030 | $1,290 | $1,540 | $1,700 | +$60 (+4.9%) | 27% above |
| 47352 | $800 | $810 | $1,010 | $1,210 | $1,340 | −$30 (−2.9%) | about the same as |
| 47356 | $820 | $830 | $1,090 | $1,440 | $1,520 | +$110 (+11.2%) | 7% above |
| 47360 | $960 | $960 | $1,210 | $1,440 | $1,590 | +$180 (+17.5%) | 19% above |
| 47361 | $900 | $900 | $1,130 | $1,350 | $1,490 | +$50 (+4.6%) | 11% above |
| 47362 | $810 | $810 | $1,010 | $1,210 | $1,340 | +$50 (+5.2%) | about the same as |
| 47366 | $1,150 | $1,150 | $1,450 | $1,740 | $1,910 | +$490 (+51.0%) | 43% above |
| 47384 | $900 | $940 | $1,140 | $1,410 | $1,620 | +$40 (+3.6%) | 12% above |
| 47385 | $810 | $810 | $1,010 | $1,210 | $1,340 | +$50 (+5.2%) | about the same as |
| 47386 | $850 | $850 | $1,070 | $1,310 | $1,560 | +$80 (+8.1%) | 6% above |
| 47387 | $1,210 | $1,210 | $1,520 | $1,810 | $2,000 | +$540 (+55.1%) | 50% above |
| 47388 | $940 | $950 | $1,190 | $1,420 | $1,560 | +$80 (+7.2%) | 17% 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.