Rent by ZIP · Marion County
Rent in Indianapolis, IN 46203
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,380 (+4.5% vs FY2026). Renters in this ZIP code pay a median $1,111 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,070 | $1,000 | +7% | $963–1,177 | $916 ±$367 |
| 1 bedroom | $1,200 | $1,140 | +5.3% | $1,080–1,320 | $963 ±$143 |
| 2 bedrooms | $1,380 | $1,320 | +4.5% | $1,242–1,518 | $1,059 ±$67 |
| 3 bedrooms | $1,790 | $1,710 | +4.7% | $1,611–1,969 | $1,318 ±$104 |
| 4 bedrooms | $2,180 | $2,100 | +3.8% | $1,962–2,398 | $1,339 ±$198 |
Small Area FMRs for the Indianapolis-Carmel, IN HUD Metro FMR Area. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Indianapolis-Carmel, IN HUD Metro FMR Area, 2 bedrooms: $1,536.
What renters pay in 46203
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 46202 | Indianapolis | $1,980 | $1,574 |
| 46204 | Indianapolis | $2,220 | $2,014 |
| 46201 | Indianapolis | $1,310 | $1,000 |
| 46205 | Indianapolis | $1,590 | $1,305 |
| 46208 | Indianapolis | $1,400 | $1,090 |
| 46214 | Indianapolis | $1,440 | $1,292 |
Fair Market Rents across Marion County, IN · All IN counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.