Indiana · FIPS 18135 · HUD FY 2027
Randolph County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Randolph 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
- $9311-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 | Randolph County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $706 | $675 | +$31 (+4.6%) | $1,005 | $1,379 | $28,240 |
| 1 bedroom | $931 | $841 | +$90 (+10.7%) | $1,082 | $1,478 | $37,240 |
| 2 bedrooms | $1,014 | $956 | +$58 (+6.1%) | $1,302 | $1,761 | $40,560 |
| 3 bedrooms | $1,328 | $1,261 | +$67 (+5.3%) | $1,642 | $2,266 | $53,120 |
| 4 bedrooms | $1,333 | $1,266 | +$67 (+5.3%) | $1,904 | $2,607 | $53,320 |
How Randolph County compares
- Randolph 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: $706, $931, $1,014, $1,328, $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 9 ZIP codes mostly in Randolph County (by land area), the 2-bedroom figure ranges from $1,010 to $1,360.
Small Area FMRs by ZIP code in Randolph County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 47340 | $750 | $990 | $1,080 | $1,410 | $1,420 | +$80 (+8.0%) | 7% above |
| 47354 | $1,020 | $1,160 | $1,360 | $1,700 | $1,840 | +$200 (+17.2%) | 34% above |
| 47355 | $710 | $930 | $1,010 | $1,340 | $1,340 | +$50 (+5.2%) | about the same as |
| 47358 | $710 | $920 | $1,010 | $1,330 | $1,340 | +$50 (+5.2%) | about the same as |
| 47368 | $750 | $960 | $1,060 | $1,380 | $1,520 | +$100 (+10.4%) | 5% above |
| 47380 | $710 | $920 | $1,010 | $1,340 | $1,340 | +$50 (+5.2%) | about the same as |
| 47382 | $710 | $930 | $1,010 | $1,340 | $1,340 | +$50 (+5.2%) | about the same as |
| 47390 | $710 | $920 | $1,010 | $1,340 | $1,340 | +$50 (+5.2%) | about the same as |
| 47394 | $730 | $960 | $1,050 | $1,370 | $1,380 | +$60 (+6.1%) | 4% 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.