Indiana premium ZIP codes, ranked
| # | ZIP | Location | Voucher rent (2BR) | Voucher rent (3BR) | Typical market rent | Premium | Basis | |
|---|---|---|---|---|---|---|---|---|
| 1 | 47305 | MuncieDelaware County | $1,145 | $1,438 | $808 | +42% | County FMR | Analyze deal |
| 2 | 46750 | HuntingtonHuntington County | $1,014 | $1,311 | $725 | +40% | County FMR | Analyze deal |
| 3 | 46517 | ElkhartElkhart County | $1,253 | $1,653 | $899 | +39% | County FMR | Analyze deal |
| 4 | 47807 | Terre HauteVigo County | $1,164 | $1,387 | $850 | +37% | County FMR | Analyze deal |
| 5 | 46202 | IndianapolisMarion County | $1,980 | $2,570 | $1,457 | +36% | ZIP SAFMR | Analyze deal |
| 6 | 47710 | EvansvilleVanderburgh County | $1,127 | $1,387 | $830 | +36% | County FMR | Analyze deal |
| 7 | 46219 | IndianapolisMarion County | $1,420 | $1,840 | $1,053 | +35% | ZIP SAFMR | Analyze deal |
| 8 | 46016 | AndersonMadison County | $1,331 | $1,743 | $988 | +35% | County FMR | Analyze deal |
| 9 | 46224 | SpeedwayMarion County | $1,470 | $1,910 | $1,111 | +32% | ZIP SAFMR | Analyze deal |
| 10 | 46204 | IndianapolisMarion County | $2,220 | $2,880 | $1,682 | +32% | ZIP SAFMR | Analyze deal |
| 11 | 46256 | IndianapolisMarion County | $1,500 | $1,940 | $1,168 | +28% | ZIP SAFMR | Analyze deal |
| 12 | 46947 | LogansportCass County | $1,014 | $1,350 | $795 | +28% | County FMR | Analyze deal |
| 13 | 46260 | IndianapolisMarion County | $1,560 | $2,020 | $1,229 | +27% | ZIP SAFMR | Analyze deal |
| 14 | 46250 | IndianapolisMarion County | $1,690 | $2,190 | $1,333 | +27% | ZIP SAFMR | Analyze deal |
| 15 | 47842 | ClintonVermillion County | $1,164 | $1,387 | $925 | +26% | County FMR | Analyze deal |
| 16 | 46803 | Fort WayneAllen County | $1,150 | $1,410 | $916 | +26% | ZIP SAFMR | Analyze deal |
| 17 | 47802 | Terre HauteVigo County | $1,164 | $1,387 | $928 | +25% | County FMR | Analyze deal |
| 18 | 46106 | BargersvilleJohnson County | $2,040 | $2,640 | $1,641 | +24% | ZIP SAFMR | Analyze deal |
| 19 | 46220 | IndianapolisMarion County | $1,790 | $2,320 | $1,440 | +24% | ZIP SAFMR | Analyze deal |
| 20 | 46205 | IndianapolisMarion County | $1,590 | $2,060 | $1,296 | +23% | ZIP SAFMR | Analyze deal |
| 21 | 46835 | Fort WayneAllen County | $1,410 | $1,730 | $1,164 | +21% | ZIP SAFMR | Analyze deal |
| 22 | 46240 | IndianapolisMarion County | $1,820 | $2,360 | $1,504 | +21% | ZIP SAFMR | Analyze deal |
| 23 | 46032 | CarmelHamilton County | $2,140 | $2,770 | $1,773 | +21% | ZIP SAFMR | Analyze deal |
| 24 | 46236 | LawrenceMarion County | $2,300 | $2,980 | $1,906 | +21% | ZIP SAFMR | Analyze deal |
| 25 | 46226 | IndianapolisMarion County | $1,440 | $1,870 | $1,197 | +20% | ZIP SAFMR | Analyze deal |
| 26 | 46807 | Fort WayneAllen County | $1,230 | $1,510 | $1,024 | +20% | ZIP SAFMR | Analyze deal |
| 27 | 46013 | AndersonMadison County | $1,331 | $1,743 | $1,112 | +20% | County FMR | Analyze deal |
| 28 | 46806 | Fort WayneAllen County | $1,100 | $1,350 | $919 | +20% | ZIP SAFMR | Analyze deal |
| 29 | 46163 | New PalestineHancock County | $1,430 | $1,850 | $1,198 | +19% | ZIP SAFMR | Analyze deal |
| 30 | 46952 | MarionGrant County | $1,014 | $1,329 | $850 | +19% | County FMR | Analyze deal |
| 31 | 47362 | New CastleHenry County | $1,014 | $1,208 | $854 | +19% | County FMR | Analyze deal |
| 32 | 46176 | ShelbyvilleShelby County | $1,280 | $1,660 | $1,083 | +18% | ZIP SAFMR | Analyze deal |
| 33 | 46356 | LowellLake County | $1,540 | $1,870 | $1,304 | +18% | ZIP SAFMR | Analyze deal |
| 34 | 46077 | ZionsvilleBoone County | $2,230 | $2,890 | $1,890 | +18% | ZIP SAFMR | Analyze deal |
| 35 | 46214 | IndianapolisMarion County | $1,440 | $1,870 | $1,222 | +18% | ZIP SAFMR | Analyze deal |
| 36 | 47804 | Terre HauteVigo County | $1,164 | $1,387 | $989 | +18% | County FMR | Analyze deal |
| 37 | 46222 | IndianapolisMarion County | $1,420 | $1,840 | $1,208 | +18% | ZIP SAFMR | Analyze deal |
| 38 | 47302 | MuncieDelaware County | $1,145 | $1,438 | $976 | +17% | County FMR | Analyze deal |
| 39 | 47711 | EvansvilleVanderburgh County | $1,127 | $1,387 | $963 | +17% | County FMR | Analyze deal |
| 40 | 46228 | IndianapolisMarion County | $1,830 | $2,370 | $1,565 | +17% | ZIP SAFMR | Analyze deal |
| 41 | 46143 | GreenwoodJohnson County | $1,870 | $2,420 | $1,601 | +17% | ZIP SAFMR | Analyze deal |
| 42 | 46901 | KokomoHoward County | $1,179 | $1,420 | $1,013 | +16% | County FMR | Analyze deal |
| 43 | 46601 | South BendSaint Joseph County | $1,276 | $1,545 | $1,100 | +16% | County FMR | Analyze deal |
| 44 | 46280 | CarmelHamilton County | $2,180 | $2,830 | $1,886 | +16% | ZIP SAFMR | Analyze deal |
| 45 | 47374 | RichmondWayne County | $1,014 | $1,281 | $889 | +14% | County FMR | Analyze deal |
| 46 | 47904 | LafayetteTippecanoe County | $1,273 | $1,517 | $1,116 | +14% | County FMR | Analyze deal |
| 47 | 46216 | LawrenceMarion County | $1,700 | $2,200 | $1,491 | +14% | ZIP SAFMR | Analyze deal |
| 48 | 46041 | FrankfortClinton County | $1,063 | $1,416 | $939 | +13% | County FMR | Analyze deal |
| 49 | 46410 | MerrillvilleLake County | $1,760 | $2,140 | $1,562 | +13% | ZIP SAFMR | Analyze deal |
| 50 | 47303 | MuncieDelaware County | $1,145 | $1,438 | $1,016 | +13% | County FMR | Analyze deal |
| 51 | 46614 | Gulivoire ParkSaint Joseph County | $1,276 | $1,545 | $1,142 | +12% | County FMR | Analyze deal |
| 52 | 46809 | Fort WayneAllen County | $1,040 | $1,280 | $932 | +12% | ZIP SAFMR | Analyze deal |
| 53 | 47713 | EvansvilleVanderburgh County | $1,127 | $1,387 | $1,011 | +12% | County FMR | Analyze deal |
| 54 | 46254 | IndianapolisMarion County | $1,370 | $1,780 | $1,230 | +11% | ZIP SAFMR | Analyze deal |
| 55 | 46802 | Fort WayneAllen County | $1,160 | $1,430 | $1,044 | +11% | ZIP SAFMR | Analyze deal |
| 56 | 46217 | IndianapolisMarion County | $1,790 | $2,320 | $1,613 | +11% | ZIP SAFMR | Analyze deal |
| 57 | 46409 | GaryLake County | $1,490 | $1,810 | $1,349 | +11% | ZIP SAFMR | Analyze deal |
| 58 | 46012 | AndersonMadison County | $1,331 | $1,743 | $1,207 | +10% | County FMR | Analyze deal |
| 59 | 46613 | South BendSaint Joseph County | $1,276 | $1,545 | $1,157 | +10% | County FMR | Analyze deal |
| 60 | 46038 | FishersHamilton County | $1,990 | $2,580 | $1,815 | +10% | ZIP SAFMR | Analyze deal |
| 61 | 46312 | East ChicagoLake County | $1,140 | $1,390 | $1,040 | +10% | ZIP SAFMR | Analyze deal |
| 62 | 46808 | Fort WayneAllen County | $1,170 | $1,440 | $1,069 | +9% | ZIP SAFMR | Analyze deal |
| 63 | 46074 | WestfieldHamilton County | $2,120 | $2,750 | $1,959 | +8% | ZIP SAFMR | Analyze deal |
| 64 | 46241 | IndianapolisMarion County | $1,480 | $1,920 | $1,369 | +8% | ZIP SAFMR | Analyze deal |
| 65 | 46319 | GriffithLake County | $1,490 | $1,810 | $1,378 | +8% | ZIP SAFMR | Analyze deal |
| 66 | 46545 | MishawakaSaint Joseph County | $1,276 | $1,545 | $1,181 | +8% | County FMR | Analyze deal |
| 67 | 47201 | ColumbusBartholomew County | $1,493 | $1,779 | $1,383 | +8% | County FMR | Analyze deal |
| 68 | 46218 | IndianapolisMarion County | $1,330 | $1,720 | $1,233 | +8% | ZIP SAFMR | Analyze deal |
| 69 | 46075 | WhitestownBoone County | $2,300 | $2,980 | $2,133 | +8% | ZIP SAFMR | Analyze deal |
| 70 | 46805 | Fort WayneAllen County | $1,120 | $1,380 | $1,039 | +8% | ZIP SAFMR | Analyze deal |
| 71 | 47714 | EvansvilleVanderburgh County | $1,127 | $1,387 | $1,046 | +8% | County FMR | Analyze deal |
| 72 | 46184 | WhitelandJohnson County | $2,280 | $2,960 | $2,118 | +8% | ZIP SAFMR | Analyze deal |
| 73 | 46201 | IndianapolisMarion County | $1,310 | $1,700 | $1,221 | +7% | ZIP SAFMR | Analyze deal |
| 74 | 46383 | ValparaisoPorter County | $1,470 | $1,790 | $1,370 | +7% | ZIP SAFMR | Analyze deal |
| 75 | 46516 | ElkhartElkhart County | $1,253 | $1,653 | $1,171 | +7% | County FMR | Analyze deal |
Premium compares the 2-bedroom voucher rent to the ZIP's typical asking rent across all home sizes. Rent data provided by Zillow Research.
How these numbers are calculated
- Voucher rent is the HUD FY2027 2-bedroom Small Area Fair Market Rent (SAFMR) where it applies, otherwise the county or metro Fair Market Rent. This is the basis housing authorities use to set payment standards, typically 90 to 110 percent of it, and it is a gross rent that includes a utility allowance.
- Typical market rent is the Zillow Observed Rent Index (ZORI) for the ZIP code as of September 2026, a smoothed measure of asking rents across all home types and sizes. Rent data provided by Zillow Research.
- Premium compares the 2-bedroom voucher rent against that blended market figure, which is the conservative comparison. Premiums for 3 and 4 bedroom homes are often larger.
- The premium is a screening signal, not a guarantee. Housing authorities run a rent reasonableness review against unassisted comparables before approving any contract rent, and the payment standard is a ceiling, not an entitlement. Always verify with the local housing authority.
Sources: HUD Fair Market Rents and Zillow Research (ZORI). FMRs effective October 1 each year; ZORI updates monthly.
Frequently asked questions
- Which ZIP code in Indiana has the biggest Section 8 premium?
- 47305 (Muncie) currently shows the largest gap: the 2-bedroom voucher rent basis is $1,145 against a typical market rent of $808, a +42% premium.
- How many ZIP codes in Indiana pay above market rent?
- Of the 172 Indiana ZIP codes with both HUD and market rent data, 105 currently show a voucher rent basis above the typical asking rent.
- Can I actually charge the full amount shown here?
- Not automatically. The housing authority sets a payment standard between 90 and 110 percent of the FMR or SAFMR, and every lease passes a rent reasonableness review against comparable unassisted units. Treat the premium as a screening signal for where to look, then verify with the local housing authority.