FMR is near market; voucher and private rents are aligned.
1.09
1 BR
1 BR- 46375
1.06ratio
FMR$1,320
Market$1,250
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.06
2 BR
2 BR- 46375
1.01ratio
FMR$1,610
Market$1,600
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR- 46375
0.98ratio
FMR$1,960
Market$1,990
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
4 BR
4 BR- 46375
0.80ratio
FMR$2,140
Market$2,680
vs market-$540
FMR is below market; voucher rent may lag private rents.
0.80
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
--
Schererville, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Schererville, IN is $1,610 a month. That is up 8.8% from $1,480 in FY 2026. Schererville 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 Schererville is 48% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Schererville, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,080
$1,260
+16.7%
$1,134–$1,386
1BR
$1,220
$1,320
+8.2%
$1,188–$1,452
2BR
$1,480
$1,610
+8.8%
$1,449–$1,771
3BR
$1,810
$1,960
+8.3%
$1,764–$2,156
4BR
$1,960
$2,140
+9.2%
$1,926–$2,354
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Schererville, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,260
$1,320
$1,610
$1,960
$2,140
FY 2026
$1,080
$1,220
$1,480
$1,810
$1,960
FY 2025
$980
$1,120
$1,360
$1,680
$1,800
FY 2024
$980
$1,150
$1,410
$1,730
$1,880
FY 2023
$740
$900
$1,100
$1,350
$1,500
Questions about Schererville, IN rents
How much will Section 8 pay for a two-bedroom in Schererville, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,610, that basic range is $1,449 to $1,771 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 Schererville, IN in?
Schererville, 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 Schererville, IN for FY 2027?
The two-bedroom FMR rose 8.8%, from $1,480 in FY 2026 to $1,610 in FY 2027. Since FY 2023 it has risen 46.4%.
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