Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Shelby, IN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shelby, IN is $1,540 a month. That is up 5.5% from $1,460 in FY 2026. Shelby 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 Shelby is 42% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Shelby, IN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,060
$1,200
+13.2%
$1,080–$1,320
1BR
$1,200
$1,270
+5.8%
$1,143–$1,397
2BR
$1,460
$1,540
+5.5%
$1,386–$1,694
3BR
$1,790
$1,870
+4.5%
$1,683–$2,057
4BR
$1,930
$2,050
+6.2%
$1,845–$2,255
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Shelby, IN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,200
$1,270
$1,540
$1,870
$2,050
FY 2026
$1,060
$1,200
$1,460
$1,790
$1,930
FY 2025
$1,000
$1,140
$1,390
$1,710
$1,840
FY 2024
$1,010
$1,170
$1,440
$1,780
$1,920
FY 2023
$800
$960
$1,180
$1,450
$1,600
Questions about Shelby, IN rents
How much will Section 8 pay for a two-bedroom in Shelby, IN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,540, that basic range is $1,386 to $1,694 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 Shelby, IN in?
Shelby, 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 Shelby, IN for FY 2027?
The two-bedroom FMR rose 5.5%, from $1,460 in FY 2026 to $1,540 in FY 2027. Since FY 2023 it has risen 30.5%.
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