Rent by ZIP · Hendricks County
Rent in Indianapolis, IN 46231
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,980 (-2.9% vs FY2026). Renters in this ZIP code pay a median $1,254 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,530 | $1,550 | -1.3% | $1,377–1,683 | – |
| 1 bedroom | $1,720 | $1,750 | -1.7% | $1,548–1,892 | $1,034 ±$413 |
| 2 bedrooms | $1,980 | $2,040 | -2.9% | $1,782–2,178 | – |
| 3 bedrooms | $2,570 | $2,640 | -2.7% | $2,313–2,827 | $2,003 ±$282 |
| 4 bedrooms | $3,130 | $3,240 | -3.4% | $2,817–3,443 | – |
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 46231
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 |
|---|---|---|---|
| 46229 | Indianapolis | $1,350 | $1,028 |
| 46228 | Indianapolis | $1,830 | $1,397 |
| 46234 | Indianapolis | $1,850 | $1,449 |
| 46227 | Indianapolis | $1,370 | $1,044 |
| 46235 | Indianapolis | $1,310 | $842 |
| 46226 | Indianapolis | $1,440 | $1,131 |
Fair Market Rents across Hendricks 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.