Putnam 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).

$1,0562-bedroom FMR, FY2027

$9051-bedroom FMR, FY2027

$74,80080% income limit, family of 4 (FY2026)

$93,500Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Putnam County is $1,056 a month, up 2.5% from $1,030 in FY2026. Putnam County belongs to the Putnam County, IN FMR area (non-metro county), 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 Putnam County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$790	$738	+7.0%	$711 – $869
1 bedroom	$905	$843	+7.4%	$815 – $995
2 bedrooms	$1,056	$1,030	+2.5%	$951 – $1,161
3 bedrooms	$1,462	$1,390	+5.2%	$1,316 – $1,608
4 bedrooms	$1,742	$1,634	+6.6%	$1,568 – $1,916

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 Putnam County that is typically $951 to $1,161 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?

$33,992median income of renter households

$884Median gross rent, all units

31%Rent-to-income ratio (median rent ÷ median renter income)

50%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $33,992 can afford about $850 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,056 is $206 (24.3%) more than that. To rent a two-bedroom at the FMR, a household needs $42,240 a year under the 30% rule, or $38,016 under the common landlord rule that income must be three times the rent.

Putnam County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$884 ±$41
Median income of renter households	$33,992 ±$4,199
Renters paying 30% or more of income (cost-burdened)	50.2% ±9.3
Renters paying 50% or more (severely cost-burdened)	8.9% ±3.5
Renter households (where the share can be computed)	3,168

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$787	$884	+12.3%
Median renter household income	$47,762	$33,992	−28.8%
Renters paying 30%+ of income	29.3%	50.2%	+20.9 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.

HUD income limits for Putnam County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $93,500 (FY2025: $94,000, −0.5%). 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%)	$19,650 −0.5%	$22,450 −0.7%	$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%)	$32,750 −0.5%	$37,400 −0.5%	$42,100 −0.5%	$46,750 −0.5%	$50,500 −0.6%	$54,250 −0.5%	$58,000 −0.5%	$61,750 −0.5%
Low income (80%)	$52,400 −0.5%	$59,850 −0.6%	$67,350 −0.5%	$74,800 −0.5%	$80,800 −0.6%	$86,800 −0.5%	$92,800 −0.5%	$98,750 −0.6%

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.