Fair Market Rent · Indiana
Fair Market Rent in Hamilton County, IN
FY2027 HUD figures, effective October 1, 2026, plus what renters pay by ZIP code.
HUD's FY2027 Fair Market Rent for a 2-bedroom home in Hamilton County is $1,536 a month, +4.3% from FY2026. Hamilton County is part of the Indianapolis-Carmel, IN HUD Metro FMR Area (a metro area). HUD also publishes Small Area FMRs by ZIP code here; those can be higher or lower than the area-wide figure. See each ZIP code below.
Area-wide Fair Market Rents
| Size | FY2027 | FY2026 | Change | Typical voucher range (90–110%) |
|---|---|---|---|---|
| Studio | $1,187 | $1,118 | +6.2% | $1,068–1,306 |
| 1 bedroom | $1,336 | $1,267 | +5.4% | $1,202–1,470 |
| 2 bedrooms | $1,536 | $1,473 | +4.3% | $1,382–1,690 |
| 3 bedrooms | $1,991 | $1,907 | +4.4% | $1,792–2,190 |
| 4 bedrooms | $2,425 | $2,338 | +3.7% | $2,182–2,668 |
The voucher range is the typical band housing authorities use for payment standards; your housing authority sets the actual standard.
Rents by ZIP code in Hamilton County
Open a ZIP code for every size, the spread of rents and nearby ZIP codes.
| ZIP | Place | 2-bedroom FMR (ZIP) | Census median, 2 bedrooms | Census median, all sizes |
|---|---|---|---|---|
| 46030 | Arcadia | $1,270 | $1,051 | $959 |
| 46031 | Atlanta | $1,470 | $1,112 | $1,054 |
| 46032 | Carmel | $2,140 | $1,689 | $1,642 |
| 46033 | Carmel | $2,160 | $1,685 | $1,786 |
| 46034 | Cicero | $1,410 | $729 | $747 |
| 46037 | Fishers | $2,020 | $1,649 | $1,656 |
| 46038 | Fishers | $1,990 | $1,654 | $1,575 |
| 46060 | Noblesville | $1,660 | $1,427 | $1,313 |
| 46062 | Noblesville | $1,870 | $1,571 | $1,509 |
| 46069 | Sheridan | $1,120 | $864 | $742 |
| 46074 | Westfield | $2,120 | $1,595 | $1,690 |
| 46280 | Indianapolis | $2,180 | $1,975 | $1,771 |
| 46290 | Indianapolis | $1,940 | – | – |
Sources: HUD Fair Market Rents and Small Area Fair Market Rents, FY2027 (effective October 1, 2026) and FY2026; U.S. Census Bureau, 2020–2024 American Community Survey 5-year estimates (median gross rent by ZIP code). Fair Market Rents and Census figures include utilities. Not affiliated with HUD or the Census Bureau. About the data.