HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Wayne County, Indiana (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Wayne County is $1,014 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$1,014
+6.1% from FY 2026
Payment standard
$913–$1,115
90% to 110% of the FMR, two-bedroom
Income to afford
$40,560
a year, with rent at 30% of income
Rank in Indiana
92nd 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 | $770 | $693–$847 | $30,800 | $14.81/hr | +6.4% |
| 1 bedroom | $775 | $698–$853 | $31,000 | $14.90/hr | +6.3% |
| 2 bedroom | $1,014 | $913–$1,115 | $40,560 | $19.50/hr | +6.1% |
| 3 bedroom | $1,281 | $1,153–$1,409 | $51,240 | $24.63/hr | +7.6% |
| 4 bedroom | $1,333 | $1,200–$1,466 | $53,320 | $25.63/hr | +5.3% |
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 | $1,533 | $1,380–$1,686 |
| 6 bedroom Estimate | $1,733 | $1,560–$1,906 |
| 7 bedroom Estimate | $1,933 | $1,740–$2,126 |
| 8 bedroom Estimate | $2,133 | $1,920–$2,346 |
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 Wayne actually rent for?
Search any address in Wayne 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 Wayne somewhere between $913 and $1,115. 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.
$1,014 a month is affordable, by HUD's 30% rule, on an income of roughly $40,560 a year. Put another way, $20 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%$913 | Voucher pays at 100%$1,014 | Voucher pays at 110%$1,115 |
|---|---|---|---|---|
| $2,500 | $750 | $163 | $264 | $365 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 6% from FY 2026 ($956) to FY 2027 ($1,014). Since FY 2020 it's up 40% in total, about 4.9% 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 | $476 | $550 | $725 | $933 | $1,010 | — |
| FY 2021 | $483 | $555 | $732 | $930 | $1,039 | +1.0% |
| FY 2022 | $490 | $562 | $738 | $928 | $1,041 | +0.8% |
| FY 2023 | $558 | $637 | $835 | $1,036 | $1,137 | +13.1% |
| FY 2024 | $637 | $657 | $863 | $1,071 | $1,156 | +3.4% |
| FY 2025 | $710 | $715 | $938 | $1,157 | $1,244 | +8.7% |
| FY 2026 | $724 | $729 | $956 | $1,191 | $1,266 | +1.9% |
| FY 2027In effect | $770 | $775 | $1,014 | $1,281 | $1,333 | +6.1% |
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 Wayne, that runs from $770 for a studio up to $1,333 for four bedrooms, all five rates in the table above.
Because Wayne 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, Richmond included.
Among Indiana's 92 counties, Wayne ranks 92nd for two-bedroom FMR. That's about 7% below the state median of $1,086 and about 5% below the national median county at $1,063. About 66,397 people live here, 25th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,010 in 47327 (Cambridge City) and $1,410 in 47393 (Williamsburg), with the 14 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 |
|---|---|---|---|
| 47324 | Boston | $1,090 | +7.5% |
| 47327 | Cambridge City | $1,010 | -0.4% |
| 47330 | Centerville | $1,060 | +4.5% |
| 47335 | Dublin | $1,010 | -0.4% |
| 47339 | Economy | $1,120 | +10.5% |
| 47341 | Fountain City | $1,010 | -0.4% |
| 47345 | Greens Fork | $1,060 | +4.5% |
| 47346 | Hagerstown | $1,010 | -0.4% |
| 47357 | Milton | $1,010 | -0.4% |
| 47370 | Pershing | $1,070 | +5.5% |
| 47374 | Richmond | $1,030 | +1.6% |
| 47375 | Richmond | $1,010 | -0.4% |
| 47392 | Webster | $1,300 | +28.2% |
| 47393 | Williamsburg | $1,410 | +39.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Wayne.
Union County
16 mi · 6,985 people
$1,014
same rate
Fayette County
18 mi · 23,334 people
$1,014
same rate
Henry County
20 mi · 48,970 people
$1,014
same rate
Randolph County
20 mi · 24,387 people
$1,014
same rate
Franklin County
30 mi · 23,020 people
$1,148
+13%
Rush County
30 mi · 16,739 people
$1,014
same rate
Delaware County
31 mi · 112,280 people
$1,145
+13%
Jay County
39 mi · 20,229 people
$1,014
same rate
Questions people ask
$1,014 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $770 for a studio, $775 for one bedroom, $1,281 for three and $1,333 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 Wayne actually go for?
HUD's number is one input. Search any address in Wayne for a rent estimate built from nearby comps. Free to start, no card.
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