Indiana · FIPS 18119 · HUD FY 2027
Owen County, Indiana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Owen County is $1,014 a month (rent plus utilities), 22% below the Indiana average of $1,302 and 42% below the U.S. average of $1,761. That is up $58 (6.1%) from FY 2026. At 30% of income, a household needs about $40,560 a year to afford it.
- $1,0142-bedroom FMR+$58 (+6.1%) vs FY 2026
- $9141-bedroom FMRIndiana: $1,082 · U.S.: $1,478
- $40,560Income for a 2-bedroom$20/hour full-time
- 63 of 922BR rank in Indiana1 = highest rent
| Unit | Owen County FY 2027 | FY 2026 | Change | Indiana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $818 | $770 | +$48 (+6.2%) | $1,005 | $1,379 | $32,720 |
| 1 bedroom | $914 | $798 | +$116 (+14.5%) | $1,082 | $1,478 | $36,560 |
| 2 bedrooms | $1,014 | $956 | +$58 (+6.1%) | $1,302 | $1,761 | $40,560 |
| 3 bedrooms | $1,244 | $1,155 | +$89 (+7.7%) | $1,642 | $2,266 | $49,760 |
| 4 bedrooms | $1,606 | $1,509 | +$97 (+6.4%) | $1,904 | $2,607 | $64,240 |
How Owen County compares
- HUD sets this rent for the Owen County, IN metro FMR area, which covers 21,604 residents in 1 county.
- Across Indiana, 2-bedroom FMRs run from $1,014 (Wayne County) to $1,536 (Boone County).
- Studio to 4-bedroom: $818, $914, $1,014, $1,244, $1,606. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 7 ZIP codes mostly in Owen County (by land area), the 2-bedroom figure ranges from $1,010 to $1,100.
Small Area FMRs by ZIP code in Owen County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 47427 | $810 | $900 | $1,010 | $1,240 | $1,590 | +$50 (+5.2%) | about the same as |
| 47431 | $810 | $880 | $1,010 | $1,250 | $1,590 | +$50 (+5.2%) | about the same as |
| 47433 | $810 | $910 | $1,010 | $1,300 | $1,600 | −$90 (−8.2%) | about the same as |
| 47455 | $810 | $900 | $1,010 | $1,240 | $1,590 | +$50 (+5.2%) | about the same as |
| 47456 | $850 | $960 | $1,100 | $1,440 | $1,760 | no change | 8% above |
| 47460 | $870 | $970 | $1,090 | $1,420 | $1,720 | −$20 (−1.8%) | 7% above |
| 47868 | $840 | $940 | $1,050 | $1,290 | $1,650 | +$30 (+2.9%) | 4% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.