Renting · Section 8
Data from November 2026
Renting in Hancock County, Indiana
Hancock County has a HUD fair market rent of $1,536 a month for 2 bedrooms (Fiscal year 2027). Renter households here pay a typical rent of $1,203 a month (Average 2020–2024). Paying the fair market rent without going over 30% of income takes $29.54 an hour, full time.
Four numbers to start with
- Fair market rent, 2 bedrooms
- $1,536
- a month, HUD, Fiscal year 2027
- 18% more than in Indiana
- Typical rent
- $1,203
- a month, Census, Average 2020–2024
- 13% more than in Indiana
- Wage needed
- $29.54
- an hour, 2 bedrooms
- Or $61,440 a year, to spend no more than 30% of income on rent.
- Rent-burdened households
- 40%
- spend 30% or more of income on rent
- 16% less than in Indiana
Only here
Renting in Hancock County: what sets it apart
What this place has that others do not, from public data, most unusual first.
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Hancock County has the 4th highest typical household income of the 92 counties in Indiana ($93,186).
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Among the neighboring counties, Henry County has the lowest typical rent ($820), 32% below the $1,203 in Hancock County.
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Hancock County has the 6th highest typical rent of the 92 counties in Indiana ($1,203).
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 Hancock 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 Hancock County was $1,755 a month in September 2026: 4.2% 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 | $1,187 | $22.83 | $47,480 |
| 1 bedroom | $1,336 | $25.69 | $53,440 |
| 2 bedrooms | $1,536 | $29.54 | $61,440 |
| 3 bedrooms | $1,991 | $38.29 | $79,640 |
| 4 bedrooms | $2,425 | $46.63 | $97,000 |
HUD area: Indianapolis-Carmel, 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 11 ZIP codes in Hancock County (Fiscal year 2027). Type yours to see it.
For 2 bedrooms they run from $1,230 in 46117 to $2,090 in 46055. 3 ZIP codes are above the county's fair market rent ($1,536).
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)
| 46040 | Anderson, IN | $1,250 | $1,410 | $1,620 | $2,110 | $2,550 |
|---|---|---|---|---|---|---|
| 46040 | Indianapolis-Carmel, IN | $1,250 | $1,410 | $1,620 | $2,110 | $2,550 |
| 46055 | Indianapolis-Carmel, IN | $1,620 | $1,820 | $2,090 | $2,710 | $3,300 |
| 46117 | Henry County, IN | $950 | $1,020 | $1,230 | $1,530 | $1,780 |
| 46117 | Indianapolis-Carmel, IN | $950 | $1,020 | $1,230 | $1,530 | $1,780 |
| 46140 | Indianapolis-Carmel, IN | $1,100 | $1,240 | $1,430 | $1,850 | $2,260 |
| 46140 | Rush County, IN | $1,100 | $1,240 | $1,430 | $1,850 | $2,260 |
| 46154 | Indianapolis-Carmel, IN | $1,100 | $1,240 | $1,430 | $1,850 | $2,260 |
| 46163 | Indianapolis-Carmel, IN | $1,110 | $1,240 | $1,430 | $1,850 | $2,260 |
| 46186 | Henry County, IN | $1,080 | $1,140 | $1,410 | $1,810 | $2,020 |
| 46186 | Indianapolis-Carmel, IN | $1,080 | $1,140 | $1,410 | $1,810 | $2,020 |
- 46040 · Anderson, IN $1,620$2,110
- 46040 · Indianapolis-Carmel, IN $1,620$2,110
- 46055 · Indianapolis-Carmel, IN $2,090$2,710
- 46117 · Henry County, IN $1,230$1,530
- 46117 · Indianapolis-Carmel, IN $1,230$1,530
- 46140 · Indianapolis-Carmel, IN $1,430$1,850
- 46140 · Rush County, IN $1,430$1,850
- 46154 · Indianapolis-Carmel, IN $1,430$1,850
- 46163 · Indianapolis-Carmel, IN $1,430$1,850
- 46186 · Henry County, IN $1,410$1,810
- 46186 · Indianapolis-Carmel, IN $1,410$1,810
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 Hancock County, 40% 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.
40%
of renter households spend 30% or more of their income on rent.
6,855 households rent in Hancock County
- Spend half or more of their income 14%
- Spend 30% or more, but less than half 26%
- Spend less than 30% 60%
Compared with the state and the country
- Hancock 40%
- Indiana 48%
- United States 51%
Low-income apartments
Low-income apartments in Hancock County
HUD lists 10 properties with homes for low-income households in Hancock County: tax-credit apartments (LIHTC) and HUD-assisted buildings. They run from the most low-income homes to the fewest.
- with tax credits (LIHTC)
- 8
- HUD-assisted
- 2
494 homes in all; 494 of them low-income, according to HUD.
- Prairie Meadows Apts Tax credit (LIHTC) 110 Switch Grass Dr, Greenfield 46140 85 low-income homes · In service since 2010 · For families
- Good Shepherd Community HUD-assisted 301 W Green Meadows Dr, Greenfield 46140 80 low-income homes · For older adults · (317) 462-8718
- Prairie Meadows Apartments, Phase II Tax credit (LIHTC) 2915 Sweet Grass Ln, Greenfield 46140 76 low-income homes · 1 bd: 24 · 2 bd: 44 · 3 bd: 8 · In service since 2017 · For people with disabilities, families
- Reflections at Bluestone Seniors Housing Campus I Tax credit (LIHTC) 1419 N Blue Rd, Greenfield 46140 62 low-income homes · Studio: 12 · 1 bd: 30 · 2 bd: 20 · In service since 2012 · For older adults
- Broadway Flats Tax credit (LIHTC) 210 Center St, Greenfield 46140 54 low-income homes · 1 bd: 16 · 2 bd: 38 · In service since 2019 · For families
- Village Apts of Fortville III Tax credit (LIHTC) 425 Vera Ct, Fortville 46040 40 low-income homes · 1 bd: 16 · 2 bd: 16 · 3 bd: 8 · In service since 1997
- Lincoln Park Apts Tax credit (LIHTC) 600 W North St, Greenfield 46140 35 low-income homes · Studio: 4 · 1 bd: 15 · 2 bd: 16 · In service since 2007
- Stonehurst Pointe Tax credit (LIHTC) 2220 Stone Crossing Way, Greenfield 46140 28 low-income homes · 2 bd: 28 · In service since 2010 · For older adults, people with disabilities, people experiencing homelessness
- Village Apartments Fortville HUD-assisted 746 N Madison St, Fortville 46040 24 low-income homes · For older adults · (317) 485-6871
- Center Place Apts Tax credit (LIHTC) 121 Center St, Greenfield 46140 10 low-income homes · 2 bd: 10 · In service since 1994
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 Hancock County
The Housing Choice Voucher (Section 8) pays part of your rent on a home you choose. A public housing agency runs it. HUD lists none with an office in Hancock County; the state's agencies can help you. 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 | $23,200 | $38,650 | $61,800 |
| 2 people | $26,500 | $44,150 | $70,600 |
| 3 people | $29,800 | $49,650 | $79,450 |
| 4 people | $33,100 | $55,150 | $88,250 |
| 5 people | $38,680 | $59,600 | $95,350 |
| 6 people | $44,360 | $64,000 | $102,400 |
| 7 people | $50,040 | $68,400 | $109,450 |
| 8 people | $55,720 | $72,800 | $116,500 |
Area median income: $110,300. HUD income limits by family size, Fiscal year 2026. Area: Indianapolis-Carmel, IN HUD Metro FMR Area. Source: HUD, Fiscal year 2026
Possible payment standard
- Studio $1,068 – $1,306
- 1 bedroom $1,202 – $1,470
- 2 bedrooms $1,382 – $1,690
- 3 bedrooms $1,792 – $2,190
- 4 bedrooms $2,183 – $2,668
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
HUD lists no housing agency with an office in Hancock County. You can apply at another agency in your state: you do not have to live where you apply. Source: HUD
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 Hancock County
These are the nearest HUD-approved agencies. They counsel for free or at low cost.
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Transition Resources - Pendleton
600 Corporation Dr Ste 105, Pendleton · 13 miles away
- Mortgage delinquency and default
- Budget and financial counseling
- and 7 more
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Pathstone Corporation - Indiana
420 S High St Ste 101, Muncie · 33 miles away · Spanish
- Budget and financial counseling
- Budget and credit workshops
- and 5 more
Tool
How much cash do you need to move in?
It starts with the 2-bedroom fair market rent in Hancock 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
$3,072
What you need before you get the keys.
What adds up
- First month
- $1,536
- Security deposit
- $1,536
- Total
- $3,072
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 Hancock County?
According to HUD (Fiscal year 2027): Studio: $1,187; 1 bedroom: $1,336; 2 bedrooms: $1,536; 3 bedrooms: $1,991; 4 bedrooms: $2,425. It covers rent plus basic utilities, except the phone.
How much do you need to earn to rent in Hancock County?
Paying the 2-bedroom fair market rent ($1,536) without spending more than 30% of income takes $29.54 an hour full time, or $61,440 a year.
Who qualifies for Section 8 in Hancock County?
Generally, families with very low income: no more than 50% of the area median income. For 4 people, HUD's limit here is $55,150 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 Hancock 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 $1,382 and $1,690 a month. Your agency publishes its figure.
Does the fair market rent change by ZIP code in Hancock County?
For 2 bedrooms they run from $1,230 in 46117 to $2,090 in 46055. 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 Hancock County?
HUD lists 10 properties with homes for low-income households in Hancock County: tax-credit apartments (LIHTC) and HUD-assisted buildings. 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 Hancock County?
HUD counts rent as a burden when it reaches 30% of income or more. In Hancock County, 40% of renter households are in that position; in Indiana, 48%, and nationwide, 51% (Average 2020–2024, Census).