Renting · Section 8
Data from November 2026
Renting in Floyd County, Indiana
Floyd County has a HUD fair market rent of $1,276 a month for 2 bedrooms (Fiscal year 2027). Renter households here pay a typical rent of $1,036 a month (Average 2020–2024). Paying the fair market rent without going over 30% of income takes $24.54 an hour, full time.
Four numbers to start with
- Fair market rent, 2 bedrooms
- $1,276
- a month, HUD, Fiscal year 2027
- 2% less than in Indiana
- Typical rent
- $1,036
- a month, Census, Average 2020–2024
- 2% less than in Indiana
- Wage needed
- $24.54
- an hour, 2 bedrooms
- Or $51,040 a year, to spend no more than 30% of income on rent.
- Rent-burdened households
- 47%
- spend 30% or more of income on rent
- 3% less than in Indiana
Only here
Renting in Floyd County: what sets it apart
What this place has that others do not, from public data, most unusual first.
-
Nearby, in Crawford County, the typical rent is $686: 34% less than in Floyd County ($1,036).
Sources: U.S. Census Bureau (Average 2020–2024).
Fair market rent
What HUD sets for each size
Every year HUD (the U.S. Department of Housing and Urban Development) publishes a Fair Market Rent (FMR) for each home size in Floyd County. It is used to work out how much a Section 8 voucher covers. The table shows what you need to earn to pay it without spending more than 30% of income.
The fair market rent covers rent plus basic utilities, except the phone. HUD generally sets it at the 40th percentile: 4 in 10 standard-quality homes rented recently cost less. 24 CFR §888.113(a)
According to Zillow (ZORI), the typical asking rent in Floyd County was $1,211 a month in September 2026: 2.8% more than 12 months ago. It is an index of market listings, not a HUD limit. Zillow data
| Size | Fair rent per month | Hourly wage | Income needed per year |
|---|---|---|---|
| Studio | $976 | $18.77 | $39,040 |
| 1 bedroom | $1,058 | $20.35 | $42,320 |
| 2 bedrooms | $1,276 | $24.54 | $51,040 |
| 3 bedrooms | $1,629 | $31.33 | $65,160 |
| 4 bedrooms | $1,874 | $36.04 | $74,960 |
HUD area: Louisville, KY-IN HUD Metro FMR Area. Source: HUD, Fiscal year 2027
By ZIP code
The fair market rent for your ZIP code
HUD also publishes fair market rents by ZIP code (Small Area FMRs) for 4 ZIP codes in Floyd County (Fiscal year 2027). Type yours to see it.
For 2 bedrooms they run from $1,110 in 47122 to $1,470 in 47119. 2 ZIP codes are above the county's fair market rent ($1,276).
Where HUD designates these areas, or where the housing agency chooses to use them, the voucher is figured on the ZIP code's rent instead of the county's. Ask your agency which one it uses. 24 CFR §982.503(a)(1)
| 47119 | $1,120 | $1,220 | $1,470 | $1,880 | $2,160 |
|---|---|---|---|---|---|
| 47122 | $850 | $920 | $1,110 | $1,420 | $1,630 |
| 47124 | $1,030 | $1,110 | $1,340 | $1,710 | $1,970 |
| 47150 | $960 | $1,040 | $1,250 | $1,600 | $1,840 |
- 47119 $1,470$1,880
- 47122 $1,110$1,420
- 47124 $1,340$1,710
- 47150 $1,250$1,600
Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) (external site)
Rent burden
How many households spend too much
HUD counts rent as a burden when it reaches 30% of income or more. In Floyd County, 47% of renter households are in that position; in Indiana, 48%, and nationwide, 51% (Average 2020–2024, Census).
Paying too much rent leaves little for food, transportation and savings. If that is you, the agencies below can guide you for free.
47%
of renter households spend 30% or more of their income on rent.
8,558 households rent in Floyd County
- Spend half or more of their income 23%
- Spend 30% or more, but less than half 24%
- Spend less than 30% 53%
Compared with the state and the country
- Floyd 47%
- Indiana 48%
- United States 51%
Low-income apartments
Low-income apartments in Floyd County
HUD lists 12 properties with homes for low-income households in Floyd County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest.
- with tax credits (LIHTC)
- 4
- HUD-assisted
- 7
- public housing
- 2
1,059 homes in all; 1,009 of them low-income, according to HUD.
- Parkview Public housing 1208 Minton Dr, New Albany 47150 446 homes, 439 low-income · Run by Housing Authority of the City of New Albany · Average payment: $265 a month · Average wait: 3 months · (812) 206-2033
- Valley Ridge Apts Tax credit (LIHTC) · HUD-assisted 200 Village Dr W, New Albany 47150 156 homes, 124 low-income · 1 bd: 16 · 2 bd: 60 · 3 bd: 80 · In service since 1999 · For families · (812) 944-4313
- Carriage House New Albany HUD-assisted 4202 Grant Line Rd, New Albany 47150 120 low-income homes · For families · (812) 944-0941
- Riverview Towers Public housing 125 Fischer Dr, New Albany 47150 70 low-income homes · Run by Housing Authority of the City of New Albany · (812) 206-2033
- Brookview Glen Apts Tax credit (LIHTC) 1810 Graybrook Ln, New Albany 47150 66 homes, 63 low-income · Studio: 10 · 1 bd: 26 · 2 bd: 30 · In service since 2007
- Whispering Creek HUD-assisted 2606 Cross Creek BLVD., New Albany 47150 59 low-income homes · For families · (812) 948-0028
- ST Edward Court Tax credit (LIHTC) 701 E Spring St, New Albany 47150 56 homes, 50 low-income · 1 bd: 20 · 2 bd: 31 · 3 bd: 4 · 4 bd: 1 · In service since 2002
- The Meadows of Guerin HUD-assisted 8037 Unruh Dr, Georgetown 47122 25 homes, 24 low-income · For older adults · (812) 915-1878
- Muir Manor Apartments HUD-assisted 1302 E Spring St, New Albany 47150 23 low-income homes · For older adults · (812) 948-1483
- Manor House Apartments HUD-assisted 715 Scribner Dr, New Albany 47150 20 homes, 19 low-income · For people with disabilities · (812) 206-1344
- Center for Women & Families Domestic Violence Res Tax credit (LIHTC) 4919 Charlestown Rd, New Albany 47150 10 low-income homes · 1 bd: 10 · In service since 1999
- Center Place III HUD-assisted 200 Mosier Ave, New Albany 47150 8 low-income homes · For people with disabilities · (812) 981-4600
One property has two programs at the same address and appears once. Search HUD's map
Source: HUD, retrieved November 6, 2026. LIHTC database, updated May 14, 2025; Assisted multifamily properties, updated October 23, 2026; Public housing developments, updated October 23, 2026.
Section 8
The Section 8 voucher in Floyd County
The Housing Choice Voucher (Section 8) pays part of your rent on a home you choose. Your public housing agency runs it. 1 agency serves in Floyd County. Here is what the rules say:
The rules, with their source
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You apply at the public housing agency. If you qualify, your name usually goes on a waiting list. Applicants must be U.S. citizens or noncitizens with eligible status as HUD defines it. Source: HUD
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Generally, your family must have very low income: no more than 50% of the area median income, by family size (the middle column of the table). Source: 24 CFR §5.603, §982.201(b)
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Each year, at least 75% of the families an agency admits from its list must have extremely low income (the 30% column). Source: 24 CFR §982.201(b)(2)
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If the rent is below the payment standard, the family generally pays 30% of its adjusted monthly income. If it is above, the family pays more. Source: 24 CFR §982.1(a)(3)
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When you move in, if the rent is above the payment standard, your share cannot go over 40% of your adjusted monthly income. Source: 24 CFR §982.508
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Each agency sets a payment standard for each size. Without asking HUD, it can go from 90% to 110% of the fair market rent. Source: 24 CFR §982.503(b), (c)
| People | Extremely low (30%) | Very low (50%) | Low |
|---|---|---|---|
| 1 person | $20,800 | $34,650 | $55,450 |
| 2 people | $23,800 | $39,600 | $63,400 |
| 3 people | $27,320 | $44,550 | $71,300 |
| 4 people | $33,000 | $49,500 | $79,200 |
| 5 people | $38,680 | $53,500 | $85,550 |
| 6 people | $44,360 | $57,450 | $91,900 |
| 7 people | $50,040 | $61,400 | $98,250 |
| 8 people | $55,720 | $65,350 | $104,550 |
Area median income: $99,000. HUD income limits by family size, Fiscal year 2026. Area: Louisville, KY-IN HUD Metro FMR Area. Source: HUD, Fiscal year 2026
Possible payment standard
- Studio $878 – $1,074
- 1 bedroom $952 – $1,164
- 2 bedrooms $1,148 – $1,404
- 3 bedrooms $1,466 – $1,792
- 4 bedrooms $1,687 – $2,061
The range the rule allows: 90% to 110% of the county's fair market rent. Your agency publishes its own.
Housing agencies that serve this place
- Housing Authority of the City of New Albany Public housing and Section 8 vouchers · 860 vouchers · 509 public housing units (812) 206-2033 Housing Authority of the City of New Albany: dduggins@nahain.com
Housing agencies in Indiana Source: HUD, Retrieved November 6, 2026
Your rights as a tenant in Indiana
What Indiana law says about deposits, notices and eviction, with the citation for each rule.
See your rights, rule by ruleCompare these rules with other states →
A summary of state law, not legal advice. Cities may have additional rules.
- When must they return my deposit?
- 45 days
- Ind. Code §32-31-3-12(a)
- If I fall behind on rent, what notice must I get?
- 10 days
- Ind. Code §32-31-1-6
- How much notice before a rent increase?
- 30 days
- Ind. Code §32-31-5-4
- Only a court order can remove youInd. Code §32-31-5-6(c)
- Protection from retaliationInd. Code §32-31-8.5-5
Help
Where to get help with rent in Floyd County
This HUD-approved agency has an office in Floyd County. They counsel for free or at low cost.
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New Albany Housing Authority
300 Erni Ave, New Albany
- Pre-purchase counseling
- Homebuyer education workshops
Tool
How much cash do you need to move in?
It starts with the 2-bedroom fair market rent in Floyd County. Change the rent, the deposit and the fees to yours: the numbers stay in your browser.
Count power on top of the rent: in Indiana, the average home bill was $133 a month in 2024 (EIA). See electricity and gas costs
Your move
We use the place's fair market rent and the state's deposit rule.
Adjust advanced details
Let's do the math
Cash to move in
$2,552
What you need before you get the keys.
What adds up
- First month
- $1,276
- Security deposit
- $1,276
- Total
- $2,552
When you'll have it
Enter what you can set aside each month to see how long it takes.
What helps
- Ask for a receipt for every payment and keep a copy of the lease.
- On move-in day, walk through the home and take dated photos.
- Never send money for a home you haven't seen or a lease you haven't read.
This is a planning estimate, not a price. What you are asked for depends on the landlord, your lease and your state's and city's rules. It is not legal advice.
Frequently asked questions
What is the fair market rent in Floyd County?
According to HUD (Fiscal year 2027): Studio: $976; 1 bedroom: $1,058; 2 bedrooms: $1,276; 3 bedrooms: $1,629; 4 bedrooms: $1,874. It covers rent plus basic utilities, except the phone.
How much do you need to earn to rent in Floyd County?
Paying the 2-bedroom fair market rent ($1,276) without spending more than 30% of income takes $24.54 an hour full time, or $51,040 a year.
Who qualifies for Section 8 in Floyd County?
Generally, families with very low income: no more than 50% of the area median income. For 4 people, HUD's limit here is $49,500 a year (Fiscal year 2026). The family usually pays 30% of its adjusted monthly income. You apply at the housing agency.
How much does Section 8 pay in Floyd County?
The voucher pays up to your housing agency's payment standard, minus your share. The rule lets the agency set it between 90% and 110% of the fair market rent: for 2 bedrooms here, between $1,148 and $1,404 a month. Your agency publishes its figure.
Does the fair market rent change by ZIP code in Floyd County?
For 2 bedrooms they run from $1,110 in 47122 to $1,470 in 47119. Where HUD designates these areas, or where the housing agency chooses to use them, the voucher is figured on the ZIP code's rent instead of the county's. Ask your agency which one it uses.
How many low-income apartments are there in Floyd County?
HUD lists 12 properties with homes for low-income households in Floyd County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest. For tax-credit apartments and HUD-assisted buildings, you apply directly at the building's management office. They tell you whether units are open and how to apply; HUD does not have that information.
How many households spend too much on rent in Floyd County?
HUD counts rent as a burden when it reaches 30% of income or more. In Floyd County, 47% of renter households are in that position; in Indiana, 48%, and nationwide, 51% (Average 2020–2024, Census).