Rent by ZIP · Marion County
Rent in Indianapolis, IN 46235
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,310 (+4.8% vs FY2026). Renters in this ZIP code pay a median $973 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,010 | $950 | +6.3% | $909–1,111 | $835 ±$112 |
| 1 bedroom | $1,140 | $1,080 | +5.6% | $1,026–1,254 | $754 ±$207 |
| 2 bedrooms | $1,310 | $1,250 | +4.8% | $1,179–1,441 | $842 ±$55 |
| 3 bedrooms | $1,700 | $1,620 | +4.9% | $1,530–1,870 | $1,302 ±$203 |
| 4 bedrooms | $2,070 | $1,980 | +4.5% | $1,863–2,277 | $1,131 ±$144 |
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 46235
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 |
|---|---|---|---|
| 46234 | Indianapolis | $1,850 | $1,449 |
| 46236 | Indianapolis | $2,300 | $1,741 |
| 46237 | Indianapolis | $1,730 | $1,382 |
| 46231 | Indianapolis | $1,980 | – |
| 46239 | Indianapolis | $1,790 | $1,445 |
| 46240 | Indianapolis | $1,820 | $1,453 |
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.