FY2027 Fair Market Rent · Indiana
Lake County Fair Market Rent & Income Limits
HUD's FY2027 Fair Market Rent for a two-bedroom home in Lake County, IN is $1,429 a month, up 8.5% from FY2026. The area median family income is $100,900, and a family of four counts as low income up to $80,700 a year.
Fair Market Rent by unit size
FY2027 FY2026
Fair Market Rents are gross rents: rent plus the cost of all utilities except phone, cable and internet.
Check your household
Enter your household size and total yearly income before taxes to see which HUD income category it falls in for Lake County, IN.
Low income (80% limit)
A household of 4 earning $78,700 is under the 80% limit of $80,700 for this area. At 30% of income it could pay about $1,968 a month for rent and utilities.
This is a quick comparison with HUD's published limits, not an eligibility decision. Programs count income in their own ways and many have waiting lists; the local housing agency or property decides.
Income limits in Lake County
HUD's FY2026 income limits for Gary, IN are based on a median family income of $100,900. Programs such as Housing Choice Vouchers, public housing and HOME use the 30%, 50% and 80% columns; Low-Income Housing Tax Credit properties use the 50% and 60% Multifamily Tax Subsidy Project limits.
| People | Extremely low30% / poverty | Very low50% | 60% (LIHTC)MTSP | Low income80% |
|---|---|---|---|---|
| 1 | $21,200 | $35,350 | $42,420 | $56,500 |
| 2 | $24,200 | $40,400 | $48,480 | $64,600 |
| 3 | $27,320 | $45,450 | $54,540 | $72,650 |
| 4 | $33,000 | $50,450 | $60,540 | $80,700 |
| 5 | $38,680 | $54,500 | $65,400 | $87,200 |
| 6 | $44,360 | $58,550 | $70,260 | $93,650 |
| 7 | $50,040 | $62,600 | $75,120 | $100,100 |
| 8 | $55,720 | $66,600 | $79,920 | $106,550 |
Rent history
Since FY2017 the two-bedroom FMR here has gone from $864 to $1,429, up 65.4% over ten years. HUD has published a two-bedroom FMR for this area since FY1983, when it was $334.
What it takes to afford the rent
To keep a two-bedroom rent of $1,429 at no more than 30% of income, the usual affordability rule, a household needs about $57,200 a year. That is 57% of the area median family income of $100,900, so a typical family can afford it with room to spare.
| Unit | FY2027 | FY2026 | FY2025 | Income to affordat 30% |
|---|---|---|---|---|
| Studio | $1,117 | $959 | $860 | $44,700 |
| 1 bedroom | $1,176 | $1,082 | $985 | $47,000 |
| 2 bedrooms | $1,429 | $1,317 | $1,197 | $57,200 |
| 3 bedrooms | $1,739 | $1,612 | $1,475 | $69,600 |
| 4 bedrooms | $1,898 | $1,744 | $1,587 | $75,900 |
How Lake County compares
Lake County is part of the Gary, IN HUD Metro FMR Area, together with Newton County and Porter County. HUD publishes one Fair Market Rent and one set of income limits for the whole area, so the numbers on this page apply in every county of it.
Lake County has the 13th highest two-bedroom Fair Market Rent of the 92 counties in Indiana; the population-weighted average across Indiana is $1,302 and the nationwide average is $1,751.
Small Area FMRs by ZIP code
HUD also publishes Small Area Fair Market Rents for each ZIP code. In Lake County the two-bedroom figure ranges from $1,140 to $1,880 across 32 ZIP codes, against the area-wide $1,429. Gary, IN is one of HUD's mandatory Small Area FMR areas (designated 2016), so housing agencies there must set voucher payment standards from these ZIP-code rents.
| ZIP | Place | 2 BR SAFMR | 110% payment std. |
|---|---|---|---|
| 46321 | Munster | $1,880 | $2,068 |
| 46410 | Merrillville | $1,760 | $1,936 |
| 46307 | Crown Point | $1,650 | $1,815 |
| 46375 | Schererville | $1,610 | $1,771 |
| 46303 | Cedar Lake | $1,580 | $1,738 |
| 46322 | Highland | $1,550 | $1,705 |
| 46323 | Hammond | $1,540 | $1,694 |
| 46356 | Lowell | $1,540 | $1,694 |
| 46377 | Shelby | $1,540 | $1,694 |
| 46319 | Griffith | $1,490 | $1,639 |
| 46373 | Saint John | $1,490 | $1,639 |
| 46409 | Gary | $1,490 | $1,639 |
| 46311 | Dyer | $1,480 | $1,628 |
| 46405 | Lake Station | $1,460 | $1,606 |
| 46324 | Hammond | $1,450 | $1,595 |
| 46342 | Hobart | $1,430 | $1,573 |
| 46308 | Crown Point | $1,420 | $1,562 |
| 46325 | Hammond | $1,420 | $1,562 |
| 46355 | Leroy | $1,420 | $1,562 |
| 46401 | Gary | $1,420 | $1,562 |
| 46411 | Merrillville | $1,420 | $1,562 |
| 46327 | Hammond | $1,410 | $1,551 |
| 46376 | Schneider | $1,340 | $1,474 |
| 46408 | Gary | $1,330 | $1,463 |
| 46320 | Hammond | $1,300 | $1,430 |
| 46404 | Gary | $1,300 | $1,430 |
| 46402 | Gary | $1,260 | $1,386 |
| 46406 | Gary | $1,260 | $1,386 |
| 46394 | Whiting | $1,230 | $1,353 |
| 46403 | Gary | $1,220 | $1,342 |
| 46407 | Gary | $1,150 | $1,265 |
| 46312 | East Chicago | $1,140 | $1,254 |
Questions
What is the Fair Market Rent in Lake County, IN for 2027?
For FY2027 (October 1, 2026 to September 30, 2027) HUD's Fair Market Rents in Lake County, IN are $1,117 for a studio, $1,176 for one bedroom, $1,429 for two bedrooms, $1,739 for three and $1,898 for four bedrooms, per month including utilities.
What is the area median income in Lake County, IN?
HUD's FY2026 median family income for the area is $100,900, up 5.5% from $95,600 in FY2025.
What is 80% of AMI in Lake County, IN for a family of 4?
The FY2026 low-income limit (80%) for a household of four is $80,700 a year. The very low-income limit (50%) is $50,450 and the extremely low-income limit is $33,000.
What is the 60% AMI limit for tax credit housing in Lake County, IN?
Under HUD's FY2026 Multifamily Tax Subsidy Project limits, the 60% limit is $42,420 for one person and $60,540 for four.
Is the Fair Market Rent the same as the Section 8 payment standard?
No. Housing agencies set their payment standard between 90% and 110% of the FMR (for a two-bedroom here: $1,286 to $1,572), and can ask HUD for exceptions. Check the payment standard with your local housing agency.