Fair Market Rent · Indiana
Fair Market Rent in Madison 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 Madison County is $1,331 a month, +10.4% from FY2026. Madison County is part of the Anderson, 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 | $1,011 | $898 | +12.6% | $910–1,112 |
| 1 bedroom | $1,017 | $919 | +10.7% | $915–1,119 |
| 2 bedrooms | $1,331 | $1,206 | +10.4% | $1,198–1,464 |
| 3 bedrooms | $1,743 | $1,594 | +9.3% | $1,569–1,917 |
| 4 bedrooms | $1,749 | $1,597 | +9.5% | $1,574–1,924 |
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 Madison 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 |
|---|---|---|---|---|
| 46001 | Alexandria | $1,170 | $849 | $831 |
| 46011 | Anderson | $1,520 | $966 | $1,040 |
| 46012 | Anderson | $1,410 | $987 | $1,032 |
| 46013 | Anderson | $1,290 | $943 | $916 |
| 46016 | Anderson | $1,380 | $911 | $870 |
| 46017 | Anderson | $1,370 | $1,000 | $980 |
| 46036 | Elwood | $1,200 | $858 | $865 |
| 46044 | Frankton | $1,440 | $1,042 | $1,197 |
| 46048 | Ingalls | $1,900 | – | $1,379 |
| 46051 | Lapel | $1,700 | $1,013 | $1,285 |
| 46056 | Markleville | $1,470 | $1,064 | $1,085 |
| 46063 | Orestes | $1,140 | $717 | $733 |
| 46064 | Pendleton | $1,570 | $1,079 | $1,141 |
| 46070 | Summitville | $1,210 | $757 | $760 |
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.