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Home/IN/Madison County

Madison County, IN

CountySAFMR
Found 21 ZIPs
Zillow

County Median Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$810 – $1,440$720 – $1,310
1 BR$830 – $1,450$790 – $1,320
2 BR$1,090 – $1,900$920 – $1,700
3 BR$1,440 – $2,490$1,080 – $2,230
4 BR$1,500 – $2,620$1,130 – $2,230
5 BR$2,070Not available
6 BR$2,380Not available
7 BR$2,738Not available
8 BR$3,148Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
4
0.77-1.45
1 BR
3
0.80-1.41
2 BR
6
0.93-1.57
3 BR
9
0.99-1.62
4 BR
5
0.97-1.47
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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Madison County, IN fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 21 ZIP codes in Madison County, IN ranges from $1,090 to $1,900 a month, with a median of $1,370. That is up 13.2% from $1,210 in FY 2026. Madison County is in the Anderson, IN HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,331. The median county two-bedroom FMR in Indiana is $1,086, so Madison County is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Madison County, IN
BedroomsFY 2027Change90–110% range
Studio$1,040+15.6%$936–$1,144
1BR$1,050+14.1%$945–$1,155
2BR$1,370+13.2%$1,233–$1,507
3BR$1,790+11.9%$1,611–$1,969
4BR$1,800+12.5%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Madison County, IN
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,050$1,370$1,790$1,800
FY 2026$900$920$1,210$1,600$1,600
FY 2025$760$800$1,050$1,370$1,410
FY 2024$790$870$1,140$1,470$1,520
FY 2023$640$700$910$1,160$1,220

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
46048$1,900+38.7%
46051$1,700+24.1%
46060$1,660+21.2%
46040$1,620+18.2%
46064$1,570+14.6%
46011$1,520+10.9%
46056$1,470+7.3%
46044$1,440+5.1%
46012$1,410+2.9%
46016$1,380+0.7%
46017$1,3700.0%
46015$1,330−2.9%
46018$1,330−2.9%
46013$1,290−5.8%
46070$1,210−11.7%
46036$1,200−12.4%
46001$1,170−14.6%
46063$1,140−16.8%
46928$1,090−20.4%
47342$1,090−20.4%
47356$1,090−20.4%

Questions about Madison County, IN rents

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

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,331, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,198 to $1,464 a month; under the ZIP-level Small Area FMR of $1,370 it would be $1,233 to $1,507. 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 Madison County, IN in?

Madison County, IN is in the Anderson, IN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,331.

How much did fair market rent change in Madison County, IN for FY 2027?

The two-bedroom FMR rose 13.2%, from $1,210 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 50.5%.

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

IN statewide rentsWhat is SAFMR?Data sources