FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR- 46304
1.03ratio
FMR$1,230
Market$1,190
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.03
2 BR
2 BR- 46304
1.06ratio
FMR$1,500
Market$1,420
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR- 46304
0.98ratio
FMR$1,830
Market$1,870
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.98
4 BR
4 BR- 46304
0.88ratio
FMR$1,990
Market$2,270
vs market-$280
FMR is below market; voucher rent may lag private rents.
0.88
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Chesterton, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Chesterton, IN is $1,500 a month. That is up 6.4% from $1,410 in FY 2026. Chesterton is in the Gary, IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Indiana is $1,086, so Chesterton is 38% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Chesterton, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,030
$1,170
+13.6%
$1,053–$1,287
1BR
$1,160
$1,230
+6.0%
$1,107–$1,353
2BR
$1,410
$1,500
+6.4%
$1,350–$1,650
3BR
$1,730
$1,830
+5.8%
$1,647–$2,013
4BR
$1,870
$1,990
+6.4%
$1,791–$2,189
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Chesterton, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,170
$1,230
$1,500
$1,830
$1,990
FY 2026
$1,030
$1,160
$1,410
$1,730
$1,870
FY 2025
$940
$1,080
$1,310
$1,610
$1,740
FY 2024
$960
$1,130
$1,380
$1,690
$1,840
FY 2023
$740
$900
$1,100
$1,350
$1,500
Questions about Chesterton, IN rents
How much will Section 8 pay for a two-bedroom in Chesterton, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,500, that basic range is $1,350 to $1,650 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Chesterton, IN in?
Chesterton, IN is in the Gary, IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Chesterton, IN for FY 2027?
The two-bedroom FMR rose 6.4%, from $1,410 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 36.4%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set