FMR is below market; voucher rent may lag private rents.
0.79
1 BR
1 BR- 46064
0.83ratio
FMR$1,200
Market$1,440
vs market-$240
FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR- 46064
0.93ratio
FMR$1,570
Market$1,680
vs market-$110
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR- 46064
1.15ratio
FMR$2,050
Market$1,780
vs market+$270
FMR is above market; underwrite to market rent.
1.15
4 BR
4 BR- 46064
1.02ratio
FMR$2,070
Market$2,020
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.02
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
--
Pendleton, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Pendleton, IN is $1,570 a month. That is up 9.8% from $1,430 in FY 2026. Pendleton 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 Pendleton is 45% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Pendleton, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,060
$1,190
+12.3%
$1,071–$1,309
1BR
$1,090
$1,200
+10.1%
$1,080–$1,320
2BR
$1,430
$1,570
+9.8%
$1,413–$1,727
3BR
$1,890
$2,050
+8.5%
$1,845–$2,255
4BR
$1,900
$2,070
+8.9%
$1,863–$2,277
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Pendleton, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,190
$1,200
$1,570
$2,050
$2,070
FY 2026
$1,060
$1,090
$1,430
$1,890
$1,900
FY 2025
$890
$1,040
$1,230
$1,610
$1,920
FY 2024
$920
$1,010
$1,320
$1,700
$1,760
FY 2023
$720
$780
$1,020
$1,300
$1,380
Questions about Pendleton, IN rents
How much will Section 8 pay for a two-bedroom in Pendleton, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,570, that basic range is $1,413 to $1,727 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 Pendleton, IN in?
Pendleton, 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 Pendleton, IN for FY 2027?
The two-bedroom FMR rose 9.8%, from $1,430 in FY 2026 to $1,570 in FY 2027. Since FY 2023 it has risen 53.9%.
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