Carroll County, IN: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,0272-bedroom FMR, FY2027

$7871-bedroom FMR, FY2027

$70,00080% income limit, family of 4 (FY2026)

$87,500Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Carroll County is $1,027 a month, up 5.5% from $973 in FY2026. Carroll County belongs to the Carroll County, IN HUD Metro FMR Area FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Carroll County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$760	$709	+7.2%	$684 – $836
1 bedroom	$787	$742	+6.1%	$709 – $865
2 bedrooms	$1,027	$973	+5.5%	$925 – $1,129
3 bedrooms	$1,232	$1,219	+1.1%	$1,109 – $1,355
4 bedrooms	$1,396	$1,328	+5.1%	$1,257 – $1,535

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Carroll County that is typically $925 to $1,129 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$46,015median income of renter households

$890Median gross rent, all units

23%Rent-to-income ratio (median rent ÷ median renter income)

28%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $46,015 can afford about $1,150 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,027 is $123 (10.7%) less than that. To rent a two-bedroom at the FMR, a household needs $41,080 a year under the 30% rule, or $36,972 under the common landlord rule that income must be three times the rent.

Carroll County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$890 ±$102
Median income of renter households	$46,015 ±$9,301
Renters paying 30% or more of income (cost-burdened)	27.9% ±8.8
Renters paying 50% or more (severely cost-burdened)	8.2% ±3.8
Renter households (where the share can be computed)	1,332

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$691	$890	+28.8%
Median renter household income	$37,371	$46,015	+23.1%
Renters paying 30%+ of income	32.1%	27.9%	−4.2 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,010 to $1,320 depending on the ZIP code.

All 20 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
46041	$830	$850	$1,040	$1,380	$1,560
46065	$920	$930	$1,170	$1,530	$1,590
46913	$770	$800	$1,040	$1,260	$1,410
46915	$750	$780	$1,010	$1,220	$1,390
46916	$760	$790	$1,030	$1,240	$1,400
46917	$790	$820	$1,040	$1,290	$1,410
46920	$840	$860	$1,080	$1,400	$1,470
46923	$810	$930	$1,120	$1,350	$1,800
46929	$800	$810	$1,020	$1,250	$1,420
46932	$830	$830	$1,020	$1,350	$1,420
46947	$840	$850	$1,030	$1,370	$1,380
46977	$760	$790	$1,030	$1,240	$1,400
46979	$910	$920	$1,180	$1,420	$1,640
47905	$980	$1,110	$1,320	$1,570	$2,210
47920	$890	$960	$1,190	$1,430	$1,800
47923	$810	$830	$1,090	$1,300	$1,430
47926	$830	$850	$1,110	$1,320	$1,460
47950	$830	$850	$1,110	$1,320	$1,470
47960	$830	$850	$1,110	$1,330	$1,470
47997	$750	$780	$1,010	$1,220	$1,390

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Carroll County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $87,500 (FY2025: $87,000, +0.6%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$18,400 +0.5%	$21,640 +2.3%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$30,650 +0.7%	$35,000 +0.6%	$39,400 +0.6%	$43,750 +0.6%	$47,250 +0.5%	$50,750 +0.5%	$54,250 +0.6%	$57,750 +0.5%
Low income (80%)	$49,000 +0.5%	$56,000 +0.5%	$63,000 +0.6%	$70,000 +0.6%	$75,600 +0.5%	$81,200 +0.6%	$86,800 +0.5%	$92,400 +0.5%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.