Rent by ZIP ·
Rent in Indianapolis, IN 46242
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,470 (+4.3% vs FY2026).
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,140 | $1,070 | +6.5% | $1,026–1,254 | – |
| 1 bedroom | $1,280 | $1,210 | +5.8% | $1,152–1,408 | – |
| 2 bedrooms | $1,470 | $1,410 | +4.3% | $1,323–1,617 | – |
| 3 bedrooms | $1,910 | $1,830 | +4.4% | $1,719–2,101 | – |
| 4 bedrooms | $2,320 | $2,240 | +3.6% | $2,088–2,552 | – |
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.
The Census doesn't publish reliable rent figures for this ZIP code, usually because few homes here are rented.
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 46241 | Indianapolis | $1,480 | $1,116 |
| 46240 | Indianapolis | $1,820 | $1,453 |
| 46239 | Indianapolis | $1,790 | $1,445 |
| 46237 | Indianapolis | $1,730 | $1,382 |
| 46236 | Indianapolis | $2,300 | $1,741 |
| 46235 | Indianapolis | $1,310 | $842 |
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.