Renting · Section 8
Data from November 2026
Renting in Madison County, Indiana
Madison County has a HUD fair market rent of $1,331 a month for 2 bedrooms (Fiscal year 2027). Renter households here pay a typical rent of $939 a month (Average 2020–2024). Paying the fair market rent without going over 30% of income takes $25.60 an hour, full time.
Four numbers to start with
- Fair market rent, 2 bedrooms
- $1,331
- a month, HUD, Fiscal year 2027
- 2% more than in Indiana
- Typical rent
- $939
- a month, Census, Average 2020–2024
- 12% less than in Indiana
- Wage needed
- $25.60
- an hour, 2 bedrooms
- Or $53,240 a year, to spend no more than 30% of income on rent.
- Rent-burdened households
- 49%
- spend 30% or more of income on rent
- 2% more than in Indiana
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 Madison 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 Madison County was $1,113 a month in September 2026: 2.2% 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 | $1,011 | $19.44 | $40,440 |
| 1 bedroom | $1,017 | $19.56 | $40,680 |
| 2 bedrooms | $1,331 | $25.60 | $53,240 |
| 3 bedrooms | $1,743 | $33.52 | $69,720 |
| 4 bedrooms | $1,749 | $33.63 | $69,960 |
HUD area: Anderson, 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 25 ZIP codes in Madison County (Fiscal year 2027). Type yours to see it.
For 2 bedrooms they run from $1,140 in 46063 to $1,900 in 46048. 14 ZIP codes are above the county's fair market rent ($1,331).
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)
| 46001 | Anderson, IN | $890 | $890 | $1,170 | $1,530 | $1,540 |
|---|---|---|---|---|---|---|
| 46001 | Muncie, IN | $890 | $890 | $1,170 | $1,530 | $1,540 |
| 46011 | Anderson, IN | $1,150 | $1,160 | $1,520 | $1,990 | $2,000 |
| 46012 | Anderson, IN | $1,070 | $1,080 | $1,410 | $1,840 | $1,860 |
| 46012 | Muncie, IN | $1,070 | $1,080 | $1,410 | $1,840 | $1,860 |
| 46013 | Anderson, IN | $980 | $990 | $1,290 | $1,690 | $1,700 |
| 46016 | Anderson, IN | $1,050 | $1,050 | $1,380 | $1,810 | $1,810 |
| 46017 | Anderson, IN | $1,040 | $1,050 | $1,370 | $1,790 | $1,800 |
| 46017 | Muncie, IN | $1,040 | $1,050 | $1,370 | $1,790 | $1,800 |
| 46036 | Anderson, IN | $910 | $920 | $1,200 | $1,570 | $1,580 |
| 46036 | Grant County, IN | $910 | $920 | $1,200 | $1,570 | $1,580 |
| 46036 | Indianapolis-Carmel, IN | $910 | $920 | $1,200 | $1,570 | $1,580 |
| 46036 | Tipton County, IN | $910 | $920 | $1,200 | $1,570 | $1,580 |
| 46044 | Anderson, IN | $1,090 | $1,100 | $1,440 | $1,890 | $1,890 |
| 46048 | Anderson, IN | $1,440 | $1,450 | $1,900 | $2,490 | $2,500 |
| 46051 | Anderson, IN | $1,290 | $1,300 | $1,700 | $2,230 | $2,230 |
| 46056 | Anderson, IN | $1,120 | $1,120 | $1,470 | $1,920 | $1,940 |
| 46056 | Henry County, IN | $1,120 | $1,120 | $1,470 | $1,920 | $1,940 |
| 46056 | Indianapolis-Carmel, IN | $1,120 | $1,120 | $1,470 | $1,920 | $1,940 |
| 46063 | Anderson, IN | $870 | $870 | $1,140 | $1,490 | $1,500 |
| 46064 | Anderson, IN | $1,190 | $1,200 | $1,570 | $2,050 | $2,070 |
| 46064 | Indianapolis-Carmel, IN | $1,190 | $1,200 | $1,570 | $2,050 | $2,070 |
| 46070 | Anderson, IN | $920 | $920 | $1,210 | $1,580 | $1,590 |
| 46070 | Grant County, IN | $920 | $920 | $1,210 | $1,580 | $1,590 |
| 46070 | Muncie, IN | $920 | $920 | $1,210 | $1,580 | $1,590 |
- 46001 · Anderson, IN $1,170$1,530
- 46001 · Muncie, IN $1,170$1,530
- 46011 · Anderson, IN $1,520$1,990
- 46012 · Anderson, IN $1,410$1,840
- 46012 · Muncie, IN $1,410$1,840
- 46013 · Anderson, IN $1,290$1,690
- 46016 · Anderson, IN $1,380$1,810
- 46017 · Anderson, IN $1,370$1,790
- 46017 · Muncie, IN $1,370$1,790
- 46036 · Anderson, IN $1,200$1,570
- 46036 · Grant County, IN $1,200$1,570
- 46036 · Indianapolis-Carmel, IN $1,200$1,570
- 46036 · Tipton County, IN $1,200$1,570
- 46044 · Anderson, IN $1,440$1,890
- 46048 · Anderson, IN $1,900$2,490
- 46051 · Anderson, IN $1,700$2,230
- 46056 · Anderson, IN $1,470$1,920
- 46056 · Henry County, IN $1,470$1,920
- 46056 · Indianapolis-Carmel, IN $1,470$1,920
- 46063 · Anderson, IN $1,140$1,490
- 46064 · Anderson, IN $1,570$2,050
- 46064 · Indianapolis-Carmel, IN $1,570$2,050
- 46070 · Anderson, IN $1,210$1,580
- 46070 · Grant County, IN $1,210$1,580
- 46070 · Muncie, IN $1,210$1,580
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 Madison County, 49% 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.
49%
of renter households spend 30% or more of their income on rent.
15,941 households rent in Madison County
- Spend half or more of their income 25%
- Spend 30% or more, but less than half 24%
- Spend less than 30% 51%
Compared with the state and the country
- Madison 49%
- Indiana 48%
- United States 51%
Low-income apartments
Low-income apartments in Madison County
HUD lists 25 properties with homes for low-income households in Madison 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)
- 17
- HUD-assisted
- 8
- public housing
- 1
1,828 homes in all; 1,646 of them low-income, according to HUD.
- The Towers HUD-assisted 524 W 53rd St, Anderson 46013 307 homes, 305 low-income · For older adults · (765) 642-4917
- Cambridge Square Anderson HUD-assisted 1430 E 60th St, Anderson 46013 150 low-income homes · For older adults · (765) 649-7366
- Cottages of Anderson Tax credit (LIHTC) 3221 Morton St, Anderson 46016 120 low-income homes · 1 bd: 28 · 2 bd: 64 · 3 bd: 28 · In service since 2018 · For older adults
- Westvale Manor Public housing 2207 Fulton St, Anderson 46016 117 low-income homes · Run by Housing Authority of the City of Anderson · Average payment: $329 a month · Average wait: 8 months · (765) 641-2620
- Longfellow Plaza HUD-assisted 319 E 12th St, Anderson 46016 100 low-income homes · For older adults · (765) 642-9888
- Hoosier Woods Apts II Tax credit (LIHTC) 3833 Hoosier Woods Ct, Anderson 46013 110 homes, 97 low-income · 1 bd: 15 · 2 bd: 55 · 3 bd: 34 · 4 bd: 6 · In service since 2005 · For people with disabilities, people experiencing homelessness
- Applecreek Commons Tax credit (LIHTC) 1326 McIntosh Ln, Anderson 46013 194 homes, 96 low-income · 1 bd: 32 · 2 bd: 48 · 3 bd: 16 · In service since 1997
- Hoosier Woods Apts I Tax credit (LIHTC) 3833 Hoosier Woods Ct, Anderson 46013 104 homes, 92 low-income · 1 bd: 16 · 2 bd: 58 · 3 bd: 30 · In service since 2003
- Pendleton Place Apts Tax credit (LIHTC) 101 Shamrock Cir, Pendleton 46064 92 homes, 88 low-income · 1 bd: 26 · 2 bd: 48 · 3 bd: 18 · In service since 1999
- Fairview Park Apts Tax credit (LIHTC) 924 Sun Valley Dr, Anderson 46016 80 homes, 76 low-income · 2 bd: 38 · 3 bd: 30 · 4 bd: 12 · In service since 2003
- Alexandria Manor Apts Tax credit (LIHTC) · HUD-assisted 600 E Jackson St, Alexandria 46001 49 low-income homes · 2 bd: 21 · 3 bd: 28 · In service since 2005 · For families · (765) 724-2322
- Village at White River HUD-assisted 1212 Pearl St, Anderson 46016 45 homes, 44 low-income · For older adults · (765) 622-7703
- Anderson Homes/Asbury Glen Tax credit (LIHTC) 2409 Pitt St, Anderson 46016 37 low-income homes · 3 bd: 33 · 4 bd: 4 · In service since 2005
- Forest Glen Apts Tax credit (LIHTC) 1373 S L St, Elwood 46036 37 low-income homes · Studio: 1 · 1 bd: 16 · 2 bd: 20 · In service since 2003
- Timberlake Estates Senior Apts Tax credit (LIHTC) 2200 Hummingbird Ln, Alexandria 46001 36 low-income homes · Studio: 1 · 1 bd: 3 · 2 bd: 32 · In service since 2005 · For older adults, people with disabilities
- Lincolnwood Estates Tax credit (LIHTC) 306 Lincoln Wood Dr, Alexandria 46001 32 low-income homes · 1 bd: 28 · 2 bd: 4 · In service since 2009 · For people with disabilities, families, people experiencing homelessness
- Erhal Senior Housing at Anderson Tax credit (LIHTC) 28 W 12th St, Anderson 46016 30 low-income homes · Studio: 1 · 1 bd: 26 · 2 bd: 3 · In service since 2014 · For older adults
- Central School Senior Apts Tax credit (LIHTC) 2120 Central Ave, Anderson 46016 35 homes, 28 low-income · In service since 2007 · For older adults
- The Mercantile Tax credit (LIHTC) 302 N Harrison St, Alexandria 46001 26 low-income homes · 1 bd: 16 · 2 bd: 10 · In service since 2017 · For families
- Ashbury Pointe Tax credit (LIHTC) 100 Ashwood Dr, Pendleton 46064 24 low-income homes · 2 bd: 24 · In service since 2004 · For older adults
- Apartment Living HUD-assisted 308 W 19th St, Anderson 46016 20 low-income homes · For people with disabilities · (765) 649-8161
- Ashbury Pointe II Tax credit (LIHTC) 200 Ashwood Dr, Pendleton 46064 18 homes, 17 low-income · 2 bd: 18 · In service since 2007
- Group Living HUD-assisted 1715 Main St, Anderson 46016 15 low-income homes · For people with disabilities · (765) 649-8161
- Group Living II HUD-assisted 3115 Brown St, Anderson 46016 10 low-income homes · For people with disabilities · (765) 649-8161
- The Village at Hillside Tax credit (LIHTC) 1326 W 10th St, Anderson 46016 40 homes
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 Madison County
The Housing Choice Voucher (Section 8) pays part of your rent on a home you choose. Your public housing agency runs it. 2 agencies serve in Madison County. Here is what the rules say:
The rules, with their source
-
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
-
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)
-
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)
-
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)
-
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
-
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 | $17,850 | $29,700 | $47,500 |
| 2 people | $21,640 | $33,950 | $54,300 |
| 3 people | $27,320 | $38,200 | $61,100 |
| 4 people | $33,000 | $42,400 | $67,850 |
| 5 people | $38,680 | $45,800 | $73,300 |
| 6 people | $44,360 | $49,200 | $78,750 |
| 7 people | $50,040 | $52,600 | $84,150 |
| 8 people | $55,720 | $56,000 | $89,600 |
Area median income: $83,400. HUD income limits by family size, Fiscal year 2026. Area: Anderson, IN HUD Metro FMR Area. Source: HUD, Fiscal year 2026
Possible payment standard
- Studio $910 – $1,112
- 1 bedroom $915 – $1,119
- 2 bedrooms $1,198 – $1,464
- 3 bedrooms $1,569 – $1,917
- 4 bedrooms $1,574 – $1,924
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 Anderson Public housing and Section 8 vouchers · 1,414 vouchers · 117 public housing units (765) 641-2620 Housing Authority of the City of Anderson: aha@ahain.org
- Housing Authority of the City of Elwood Section 8 vouchers · 304 vouchers (765) 552-2148 Housing Authority of the City of Elwood: elwoodha@att.net
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 Madison County
This HUD-approved agency has an office in Madison County. They counsel for free or at low cost.
-
Transition Resources - Pendleton
600 Corporation Dr Ste 105, Pendleton
- Mortgage delinquency and default
- Budget and financial counseling
- and 7 more
Tool
How much cash do you need to move in?
It starts with the 2-bedroom fair market rent in Madison 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
$2,662
What you need before you get the keys.
What adds up
- First month
- $1,331
- Security deposit
- $1,331
- Total
- $2,662
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 Madison County?
According to HUD (Fiscal year 2027): Studio: $1,011; 1 bedroom: $1,017; 2 bedrooms: $1,331; 3 bedrooms: $1,743; 4 bedrooms: $1,749. It covers rent plus basic utilities, except the phone.
How much do you need to earn to rent in Madison County?
Paying the 2-bedroom fair market rent ($1,331) without spending more than 30% of income takes $25.60 an hour full time, or $53,240 a year.
Who qualifies for Section 8 in Madison County?
Generally, families with very low income: no more than 50% of the area median income. For 4 people, HUD's limit here is $42,400 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 Madison 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 $1,198 and $1,464 a month. Your agency publishes its figure.
Does the fair market rent change by ZIP code in Madison County?
For 2 bedrooms they run from $1,140 in 46063 to $1,900 in 46048. 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 Madison County?
HUD lists 25 properties with homes for low-income households in Madison 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 Madison County?
HUD counts rent as a burden when it reaches 30% of income or more. In Madison County, 49% of renter households are in that position; in Indiana, 48%, and nationwide, 51% (Average 2020–2024, Census).