Rent by ZIP · Marion County
Rent in Indianapolis, IN 46240
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,820 (+4.6% vs FY2026). Renters in this ZIP code pay a median $1,311 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,410 | $1,320 | +6.8% | $1,269–1,551 | $1,107 ±$118 |
| 1 bedroom | $1,580 | $1,500 | +5.3% | $1,422–1,738 | $1,181 ±$43 |
| 2 bedrooms | $1,820 | $1,740 | +4.6% | $1,638–2,002 | $1,453 ±$95 |
| 3 bedrooms | $2,360 | $2,250 | +4.9% | $2,124–2,596 | $1,926 ±$243 |
| 4 bedrooms | $2,870 | $2,760 | +4% | $2,583–3,157 | – |
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 46240
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 |
|---|---|---|---|
| 46239 | Indianapolis | $1,790 | $1,445 |
| 46241 | Indianapolis | $1,480 | $1,116 |
| 46237 | Indianapolis | $1,730 | $1,382 |
| 46236 | Indianapolis | $2,300 | $1,741 |
| 46235 | Indianapolis | $1,310 | $842 |
| 46234 | Indianapolis | $1,850 | $1,449 |
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.