HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Tippecanoe County, Indiana (FY 2027)
A two-bedroom in Tippecanoe County carries a FY 2027 Fair Market Rent of $1,273 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Tippecanoe keys off that figure.
Two-bedroom FMR
$1,273
+2.5% from FY 2026
Payment standard
$1,146–$1,400
90% to 110% of the FMR, two-bedroom
Income to afford
$50,920
a year, with rent at 30% of income
Rank in Indiana
23rd of 92
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $942 | $848–$1,036 | $37,680 | $18.12/hr | +5.4% |
| 1 bedroom | $1,070 | $963–$1,177 | $42,800 | $20.58/hr | +3.7% |
| 2 bedroom | $1,273 | $1,146–$1,400 | $50,920 | $24.48/hr | +2.5% |
| 3 bedroom | $1,517 | $1,365–$1,669 | $60,680 | $29.17/hr | +1.9% |
| 4 bedroom | $2,128 | $1,915–$2,341 | $85,120 | $40.92/hr | +6.8% |
Five to eight 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 | $2,447 | $2,202–$2,692 |
| 6 bedroom Estimate | $2,766 | $2,489–$3,043 |
| 7 bedroom Estimate | $3,086 | $2,777–$3,395 |
| 8 bedroom Estimate | $3,405 | $3,065–$3,746 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Tippecanoe actually rent for?
Search any address in Tippecanoe for a rent estimate built from nearby comps, with the HUD figure right next to it.
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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 Tippecanoe somewhere between $1,146 and $1,400. 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.
$1,273 a month is affordable, by HUD's 30% rule, on an income of roughly $50,920 a year. Put another way, $24 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,146 | Voucher pays at 100%$1,273 | Voucher pays at 110%$1,400 |
|---|---|---|---|---|
| $2,500 | $750 | $396 | $523 | $650 |
| $4,000 | $1,200 | $0 | $73 | $200 |
Rate history
The two-bedroom rate went up 2% from FY 2026 ($1,242) to FY 2027 ($1,273). Since FY 2020 it's up 52% in total, about 6.2% a year. The Indiana median moved up 8% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $620 | $721 | $837 | $1,127 | $1,438 | — |
| FY 2021 | $653 | $753 | $872 | $1,156 | $1,452 | +4.2% |
| FY 2022 | $734 | $842 | $981 | $1,264 | $1,552 | +12.5% |
| FY 2023 | $794 | $917 | $1,071 | $1,323 | $1,661 | +9.2% |
| FY 2024 | $778 | $908 | $1,069 | $1,293 | $1,604 | -0.2% |
| FY 2025 | $831 | $971 | $1,161 | $1,399 | $1,750 | +8.6% |
| FY 2026 | $894 | $1,032 | $1,242 | $1,489 | $1,992 | +7.0% |
| FY 2027In effect | $942 | $1,070 | $1,273 | $1,517 | $2,128 | +2.5% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In Tippecanoe, that runs from $942 for a studio up to $2,128 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Tippecanoe in with one other county in the Lafayette-West Lafayette metro, Benton County among them, and every one of them gets $1,273 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Indiana's 92 counties, Tippecanoe ranks 23rd for two-bedroom FMR. That's about 17% above the state median of $1,086 and about 20% above the national median county at $1,063. About 189,071 people live here, 7th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,130 in 47941 (Dayton) and $1,350 in 47906 (West Lafayette), with the 17 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.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 47901 | Lafayette | $1,160 | -8.9% |
| 47902 | Lafayette | $1,280 | +0.5% |
| 47903 | Lafayette | $1,280 | +0.5% |
| 47904 | Lafayette | $1,150 | -9.7% |
| 47905 | Lafayette | $1,320 | +3.7% |
| 47906 | West Lafayette | $1,350 | +6.0% |
| 47907 | West Lafayette | $1,280 | +0.5% |
| 47909 | Lafayette | $1,290 | +1.3% |
| 47920 | Battle Ground | $1,190 | -6.5% |
| 47924 | Buck Creek | $1,320 | +3.7% |
| 47930 | Clarks Hill | $1,190 | -6.5% |
| 47941 | Dayton | $1,130 | -11.2% |
| 47962 | Montmorenci | $1,280 | +0.5% |
| 47981 | Romney | $1,250 | -1.8% |
| 47983 | Stockwell | $1,290 | +1.3% |
| 47992 | Westpoint | $1,210 | -4.9% |
| 47996 | West Lafayette | $1,280 | +0.5% |
Counties sharing the Lafayette-West Lafayette metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,273 two-bedroom figure as Tippecanoe.
Nearby counties
Two-bedroom FMR, with how each compares to Tippecanoe.
Clinton County
20 mi · 32,944 people
$1,063
-16%
Carroll County
22 mi · 20,535 people
$1,027
-19%
Montgomery County
24 mi · 38,312 people
$1,046
-18%
Benton County
26 mi · 8,735 people
$1,273
same rate
Fountain County
26 mi · 16,617 people
$1,014
-20%
White County
26 mi · 24,717 people
$1,134
-11%
Warren County
28 mi · 8,464 people
$1,014
-20%
Boone County
33 mi · 74,718 people
$1,536
+21%
Questions people ask
$1,273 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $942 for a studio, $1,070 for one bedroom, $1,517 for three and $2,128 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The income a household needs for a given rent
What does a rental in Tippecanoe actually go for?
HUD's number is one input. Search any address in Tippecanoe for a rent estimate built from nearby comps. Free to start, no card.
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