HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Marshall County, Indiana (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Marshall County is $1,008 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,008
FY 2026, utilities included
Payment standard range
$907 to $1,109
90% to 110% of FMR
Income to afford 2BR
$40,320
per year, at 30% of income
Rank in Indiana
47th of 92
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Marshall moves to $1,088. That's up 8%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Marshall actually rent for?
Search any address in Marshall for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $722 | $650 to $794 | $28,880 | $13.88/hr | +8.1% |
| 1 bedroom | $824 | $742 to $906 | $32,960 | $15.85/hr | +5.5% |
| 2 bedroom | $1,008 | $907 to $1,109 | $40,320 | $19.38/hr | +6.1% |
| 3 bedroom | $1,225 | $1,103 to $1,348 | $49,000 | $23.56/hr | +3.2% |
| 4 bedroom | $1,335 | $1,202 to $1,469 | $53,400 | $25.67/hr | +6.0% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,535 | $1,382 to $1,689 |
| 6 bedroom Estimate | $1,736 | $1,562 to $1,910 |
| 7 bedroom Estimate | $1,936 | $1,742 to $2,130 |
| 8 bedroom Estimate | $2,136 | $1,922 to $2,350 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Marshall, that runs from $722 for a studio up to $1,335 for four bedrooms, all five rates in the table above.
Because Marshall sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Argos included.
Among Indiana's 92 counties, Marshall ranks 47th for two-bedroom FMR. That's within a couple percent of the state median of $1,009 and within a couple percent of the national median county at $1,018. About 46,208 people live here, 32nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $970 in 46504 (Bourbon) and $1,060 in 46537 (Lapaz), with the 9 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Marshall somewhere between $907 and $1,109. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,008 a month is affordable, by HUD's 30% rule, on an income of roughly $40,320 a year. Put another way, $19 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($907) | HAP at 100% ($1,008) | HAP at 110% ($1,109) |
|---|---|---|---|---|
| $2,500 | $750 | $157 | $258 | $359 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 6% from FY 2025 ($950) to FY 2026 ($1,008). Since FY 2020 it's up 41% in total, about 5.9% a year. The Indiana median moved up 2% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $500 | $580 | $714 | $955 | $1,163 | — |
| FY 2021 | $512 | $607 | $732 | $996 | $1,267 | +2.5% |
| FY 2022 | $515 | $608 | $738 | $1,013 | $1,263 | +0.8% |
| FY 2023 | $578 | $673 | $829 | $1,127 | $1,343 | +12.3% |
| FY 2024 | $616 | $727 | $886 | $1,168 | $1,293 | +6.9% |
| FY 2025 | $668 | $781 | $950 | $1,187 | $1,260 | +7.2% |
| FY 2026 | $722 | $824 | $1,008 | $1,225 | $1,335 | +6.1% |
| FY 2027 | $814 | $877 | $1,088 | $1,296 | $1,430 | +7.9% |
Nearby counties
Questions people ask
$1,008 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $722 for a studio, $824 for one bedroom, $1,225 for three and $1,335 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Marshall actually go for?
HUD's number is one input. Search any address in Marshall for a rent estimate built from nearby comps. 3 free searches, no card.
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