FMR is near market; voucher and private rents are aligned.
0.99
1 BR
1 BR- 46036
0.94ratio
FMR$920
Market$980
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR- 46036
1.02ratio
FMR$1,200
Market$1,180
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.02
3 BR
3 BR- 46036
0.99ratio
FMR$1,570
Market$1,590
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.99
4 BR
4 BR- 46036
0.97ratio
FMR$1,580
Market$1,630
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.97
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
--
Elwood, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Elwood, IN is $1,200 a month. That is up 9.1% from $1,100 in FY 2026. Elwood is in the Grant County, IN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,014. The median county two-bedroom FMR in Indiana is $1,086, so Elwood is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Elwood, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$810
$910
+12.3%
$819–$1,001
1BR
$940
$920
−2.1%
$828–$1,012
2BR
$1,100
$1,200
+9.1%
$1,080–$1,320
3BR
$1,440
$1,570
+9.0%
$1,413–$1,727
4BR
$1,730
$1,580
−8.7%
$1,422–$1,738
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Elwood, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$920
$1,200
$1,570
$1,580
FY 2026
$810
$940
$1,100
$1,440
$1,730
FY 2025
$890
$1,040
$1,220
$1,590
$1,920
FY 2024
$730
$810
$1,050
$1,350
$1,510
FY 2023
$610
$710
$860
$1,110
$1,320
Questions about Elwood, IN rents
How much will Section 8 pay for a two-bedroom in Elwood, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,200 it would be $1,080 to $1,320. 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 Elwood, IN in?
Elwood, IN is in the Grant County, IN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.
How much did fair market rent change in Elwood, IN for FY 2027?
The two-bedroom FMR rose 9.1%, from $1,100 in FY 2026 to $1,200 in FY 2027. Since FY 2023 it has risen 39.5%.
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