Owen 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).

$1,0142-bedroom FMR, FY2027

$9141-bedroom FMR, FY2027

$67,85080% income limit, family of 4 (FY2026)

$84,000Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Owen County is $1,014 a month, up 6.1% from $956 in FY2026. Owen County belongs to the Owen 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 Owen County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$818	$770	+6.2%	$737 – $899
1 bedroom	$914	$798	+14.5%	$823 – $1,005
2 bedrooms	$1,014	$956	+6.1%	$913 – $1,115
3 bedrooms	$1,244	$1,155	+7.7%	$1,120 – $1,368
4 bedrooms	$1,606	$1,509	+6.4%	$1,446 – $1,766

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 Owen County that is typically $913 to $1,115 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?

$38,798median income of renter households

$911Median gross rent, all units

28%Rent-to-income ratio (median rent ÷ median renter income)

37%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $38,798 can afford about $970 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,014 is $44 (4.5%) more than that. To rent a two-bedroom at the FMR, a household needs $40,560 a year under the 30% rule, or $36,504 under the common landlord rule that income must be three times the rent.

Owen County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$911 ±$62
Median income of renter households	$38,798 ±$5,789
Renters paying 30% or more of income (cost-burdened)	37.4% ±9.9
Renters paying 50% or more (severely cost-burdened)	19.5% ±8.1
Renter households (where the share can be computed)	1,280

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$696	$911	+30.9%
Median renter household income	$27,842	$38,798	+39.4%
Renters paying 30%+ of income	46.1%	37.4%	−8.7 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 $1,280 depending on the ZIP code.

All 15 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
46120	$760	$870	$1,010	$1,400	$1,670
46166	$1,000	$1,120	$1,280	$1,650	$2,030
47404	$1,020	$1,110	$1,270	$1,620	$1,960
47424	$820	$830	$1,080	$1,350	$1,630
47427	$810	$900	$1,010	$1,240	$1,590
47431	$810	$880	$1,010	$1,250	$1,590
47433	$810	$910	$1,010	$1,300	$1,600
47455	$810	$900	$1,010	$1,240	$1,590
47456	$850	$960	$1,100	$1,440	$1,760
47459	$850	$890	$1,090	$1,360	$1,670
47460	$870	$970	$1,090	$1,420	$1,720
47471	$780	$800	$1,010	$1,260	$1,550
47833	$830	$900	$1,060	$1,290	$1,590
47841	$780	$780	$1,010	$1,210	$1,410
47868	$840	$940	$1,050	$1,290	$1,650

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

HUD income limits for Owen County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $84,000 (FY2025: $80,200, +4.7%). 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%)	$17,850 ±0.0%	$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%)	$29,700 −0.2%	$33,950 −0.1%	$38,200 −0.1%	$42,400 −0.1%	$45,800 −0.1%	$49,200 −0.1%	$52,600 −0.1%	$56,000 −0.1%
Low income (80%)	$47,500 −0.1%	$54,300 −0.1%	$61,100 −0.1%	$67,850 −0.1%	$73,300 −0.1%	$78,750 −0.1%	$84,150 −0.1%	$89,600 −0.1%

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.