Rent by ZIP · Marion County
Rent in Indianapolis, IN 46221
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,480 (+2.8% vs FY2026). Renters in this ZIP code pay a median $1,137 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,140 | $1,090 | +4.6% | $1,026–1,254 | – |
| 1 bedroom | $1,290 | $1,240 | +4% | $1,161–1,419 | $1,041 ±$178 |
| 2 bedrooms | $1,480 | $1,440 | +2.8% | $1,332–1,628 | $1,038 ±$95 |
| 3 bedrooms | $1,920 | $1,860 | +3.2% | $1,728–2,112 | $1,346 ±$145 |
| 4 bedrooms | $2,340 | $2,290 | +2.2% | $2,106–2,574 | $1,722 ±$195 |
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 46221
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 |
|---|---|---|---|
| 46220 | Indianapolis | $1,790 | $1,406 |
| 46222 | Indianapolis | $1,420 | $1,091 |
| 46219 | Indianapolis | $1,420 | $1,108 |
| 46218 | Indianapolis | $1,330 | $1,042 |
| 46224 | Indianapolis | $1,470 | $1,142 |
| 46217 | Indianapolis | $1,790 | $1,382 |
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.