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Boone County, IN

CountySAFMR
Found 17 ZIPs
Zillow

County Median Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$830 – $1,780$730 – $1,740
1 BR$850 – $2,000$880 – $1,610
2 BR$1,040 – $2,300$1,090 – $1,880
3 BR$1,380 – $2,980$1,170 – $2,080
4 BR$1,560 – $3,630$1,330 – $2,380
5 BR$2,323Not available
6 BR$2,671Not available
7 BR$3,072Not available
8 BR$3,533Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
2
2
2
0.61-1.52
1 BR
2
2
0.69-1.53
2 BR
2
2
0.69-1.51
3 BR
3
0.74-1.61
4 BR
3
0.74-1.69
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Boone County, IN fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 17 ZIP codes in Boone County, IN ranges from $1,040 to $2,300 a month, with a median of $1,280. That is up 0.8% from $1,270 in FY 2026. Boone County 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 Boone County is 18% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Boone County, IN
BedroomsFY 2027Change90–110% range
Studio$1,060+7.1%$954–$1,166
1BR$1,110+1.8%$999–$1,221
2BR$1,280+0.8%$1,152–$1,408
3BR$1,660+1.2%$1,494–$1,826
4BR$2,0200.0%$1,818–$2,222

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Boone County, IN
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,060$1,110$1,280$1,660$2,020
FY 2026$990$1,090$1,270$1,640$2,020
FY 2025$940$1,080$1,260$1,640$1,990
FY 2024$960$1,120$1,320$1,720$2,080
FY 2023$700$820$970$1,270$1,520

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
46075$2,300+79.7%
46278$2,300+79.7%
46077$2,230+74.2%
46112$1,840+43.8%
46268$1,570+22.7%
46149$1,510+18.0%
46167$1,410+10.2%
46102$1,380+7.8%
46052$1,2800.0%
46071$1,2800.0%
46147$1,2800.0%
47968$1,250−2.3%
46050$1,150−10.2%
46035$1,120−12.5%
46069$1,120−12.5%
47933$1,110−13.3%
46041$1,040−18.7%

Questions about Boone County, IN rents

How much will Section 8 pay for a two-bedroom in Boone County, IN?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,280, that basic range is $1,152 to $1,408 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 Boone County, IN in?

Boone County, 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 Boone County, IN for FY 2027?

The two-bedroom FMR rose 0.8%, from $1,270 in FY 2026 to $1,280 in FY 2027. Since FY 2023 it has risen 32.0%.

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

IN statewide rentsWhat is SAFMR?Data sources