FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR- 46163
1.06ratio
FMR$1,850
Market$1,740
vs market+$110
FMR is near market; voucher and private rents are aligned.
1.06
4 BR
4 BR- 46163
1.05ratio
FMR$2,260
Market$2,160
vs market+$100
FMR is near market; voucher and private rents are aligned.
1.05
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
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New Palestine, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in New Palestine, IN is $1,430 a month. That is up 3.6% from $1,380 in FY 2026. New Palestine is in the Indianapolis-Carmel, 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 New Palestine is 32% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for New Palestine, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,050
$1,110
+5.7%
$999–$1,221
1BR
$1,190
$1,240
+4.2%
$1,116–$1,364
2BR
$1,380
$1,430
+3.6%
$1,287–$1,573
3BR
$1,780
$1,850
+3.9%
$1,665–$2,035
4BR
$2,190
$2,260
+3.2%
$2,034–$2,486
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for New Palestine, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,110
$1,240
$1,430
$1,850
$2,260
FY 2026
$1,050
$1,190
$1,380
$1,780
$2,190
FY 2025
$910
$1,050
$1,230
$1,600
$1,940
FY 2024
$840
$980
$1,160
$1,510
$1,830
FY 2023
$670
$780
$930
$1,220
$1,460
Questions about New Palestine, IN rents
How much will Section 8 pay for a two-bedroom in New Palestine, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,430, that basic range is $1,287 to $1,573 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 New Palestine, IN in?
New Palestine, IN is in the Indianapolis-Carmel, 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 New Palestine, IN for FY 2027?
The two-bedroom FMR rose 3.6%, from $1,380 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 53.8%.
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