Wells 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).

$1,1022-bedroom FMR, FY2027

$8421-bedroom FMR, FY2027

$74,40080% income limit, family of 4 (FY2026)

$93,000Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Wells County is $1,102 a month, up 11.2% from $991 in FY2026. Wells County belongs to the Wells 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 Wells County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$837	$750	+11.6%	$754 – $920
1 bedroom	$842	$755	+11.5%	$758 – $926
2 bedrooms	$1,102	$991	+11.2%	$992 – $1,212
3 bedrooms	$1,342	$1,203	+11.6%	$1,208 – $1,476
4 bedrooms	$1,535	$1,393	+10.2%	$1,382 – $1,688

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 Wells County that is typically $992 to $1,212 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?

$41,238median income of renter households

$813Median gross rent, all units

24%Rent-to-income ratio (median rent ÷ median renter income)

35%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $41,238 can afford about $1,031 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,102 is $71 (6.9%) more than that. To rent a two-bedroom at the FMR, a household needs $44,080 a year under the 30% rule, or $39,672 under the common landlord rule that income must be three times the rent.

Wells County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$813 ±$70
Median income of renter households	$41,238 ±$4,873
Renters paying 30% or more of income (cost-burdened)	35.0% ±6.4
Renters paying 50% or more (severely cost-burdened)	15.2% ±5.2
Renter households (where the share can be computed)	2,538

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$702	$813	+15.8%
Median renter household income	$31,172	$41,238	+32.3%
Renters paying 30%+ of income	40.9%	35.0%	−5.9 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.

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 $1,450 depending on the ZIP code.

All 21 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
46714	$800	$810	$1,050	$1,280	$1,460
46731	$830	$870	$1,090	$1,340	$1,520
46733	$760	$940	$1,020	$1,290	$1,420
46740	$760	$930	$1,010	$1,290	$1,420
46759	$770	$810	$1,020	$1,290	$1,480
46766	$810	$820	$1,060	$1,310	$1,530
46770	$780	$790	$1,030	$1,270	$1,490
46777	$900	$910	$1,190	$1,450	$1,660
46778	$800	$810	$1,050	$1,280	$1,460
46781	$770	$780	$1,010	$1,230	$1,420
46783	$840	$850	$1,060	$1,340	$1,560
46791	$960	$960	$1,260	$1,530	$1,750
46792	$860	$880	$1,140	$1,470	$1,810
46798	$1,190	$1,190	$1,450	$1,780	$1,950
46799	$890	$900	$1,150	$1,410	$1,620
46819	$980	$980	$1,190	$1,460	$1,600
46952	$750	$800	$1,010	$1,340	$1,500
46991	$820	$880	$1,110	$1,450	$1,630
47326	$760	$790	$1,010	$1,330	$1,350
47348	$760	$780	$1,010	$1,380	$1,600
47359	$760	$780	$1,010	$1,350	$1,560

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

HUD income limits for Wells County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $93,000 (FY2025: $91,600, +1.5%). 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%)	$19,550 +1.6%	$22,350 +1.6%	$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%)	$32,550 +1.4%	$37,200 +1.5%	$41,850 +1.5%	$46,500 +1.5%	$50,250 +1.5%	$53,950 +1.5%	$57,700 +1.6%	$61,400 +1.5%
Low income (80%)	$52,100 +1.5%	$59,550 +1.5%	$67,000 +1.5%	$74,400 +1.5%	$80,400 +1.5%	$86,350 +1.5%	$92,300 +1.5%	$98,250 +1.5%

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.