Indiana · FIPS 18157 · HUD FY 2027
Tippecanoe County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Tippecanoe County is $1,273 a month (rent plus utilities), 2% below the Indiana average of $1,302 and 28% below the U.S. average of $1,765. That is up $31 (2.5%) from FY 2026. At 30% of income, a household needs about $50,920 a year to afford it.
- $1,2732-bedroom FMR+$31 (+2.5%) vs FY 2026
- $1,0701-bedroom FMRIndiana: $1,082 · U.S.: $1,482
- $50,920Income for a 2-bedroom$24/hour full-time
- 22 of 922BR rank in Indiana1 = highest rent
| Unit | Tippecanoe County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $942 | $894 | +$48 (+5.4%) | $1,005 | $1,382 | $37,680 |
| 1 bedroom | $1,070 | $1,032 | +$38 (+3.7%) | $1,082 | $1,482 | $42,800 |
| 2 bedrooms | $1,273 | $1,242 | +$31 (+2.5%) | $1,302 | $1,765 | $50,920 |
| 3 bedrooms | $1,517 | $1,489 | +$28 (+1.9%) | $1,642 | $2,272 | $60,680 |
| 4 bedrooms | $2,128 | $1,992 | +$136 (+6.8%) | $1,904 | $2,614 | $85,120 |
How Tippecanoe County compares
- HUD sets this rent for the Lafayette-West Lafayette, IN metro FMR area, which covers 197,806 residents in 2 counties.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $942, $1,070, $1,273, $1,517, $2,128. 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 13 ZIP codes mostly in Tippecanoe County (by land area), the 2-bedroom figure ranges from $1,130 to $1,350.
Small Area FMRs by ZIP code in Tippecanoe County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 47901 | $860 | $980 | $1,160 | $1,380 | $1,940 | +$30 (+2.7%) | 9% below |
| 47904 | $850 | $970 | $1,150 | $1,370 | $1,920 | +$10 (+0.9%) | 10% below |
| 47905 | $980 | $1,110 | $1,320 | $1,570 | $2,210 | +$50 (+3.9%) | 4% above |
| 47906 | $1,000 | $1,130 | $1,350 | $1,610 | $2,260 | +$80 (+6.3%) | 6% above |
| 47907 | $950 | $1,080 | $1,280 | $1,530 | $2,140 | +$30 (+2.4%) | 1% above |
| 47909 | $950 | $1,080 | $1,290 | $1,540 | $2,160 | +$20 (+1.6%) | 1% above |
| 47920 | $890 | $960 | $1,190 | $1,430 | $1,800 | +$60 (+5.3%) | 7% below |
| 47924 | $980 | $1,110 | $1,320 | $1,570 | $2,210 | +$50 (+3.9%) | 4% above |
| 47930 | $910 | $980 | $1,190 | $1,490 | $1,820 | +$60 (+5.3%) | 7% below |
| 47941 | $840 | $950 | $1,130 | $1,350 | $1,890 | no change | 11% below |
| 47981 | $960 | $1,060 | $1,250 | $1,530 | $2,010 | +$80 (+6.8%) | 2% below |
| 47983 | $950 | $1,080 | $1,290 | $1,540 | $2,160 | +$20 (+1.6%) | 1% above |
| 47992 | $900 | $1,020 | $1,210 | $1,440 | $2,020 | no change | 5% below |
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.