What is the Fair Market Rent in Clay Township (Hendricks County), IN?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,340 to $1,480 a month across the 2 ZIP codes that cover Clay Township (Hendricks County).

By ZIP code: 46103 $1,340, 46121 $1,480.

Across the whole Indianapolis-Carmel, IN HUD Metro FMR Area the two-bedroom figure is $1,536.

The Census Bureau’s median gross rent for a two-bedroom home in Clay Township (Hendricks County) is $925 (±$227), below the Small Area figure for ZIP 46103.

Figures last updated on November 12, 2026.

2 bedrooms, whole area: $1,536
2 bedrooms, ZIP 46103: $1,340
2 bedrooms, ZIP 46121: $1,480

Fair Market Rents for Clay Township (Hendricks County), fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
	Studio	1 bedroom	2 bedrooms	3 bedrooms	4 bedrooms	Census median rent
Indianapolis-Carmel, IN HUD Metro FMR Area (whole area)	$1,187	$1,336	$1,536	$1,991	$2,425	—
ZIP 46103	$1,040	$1,170	$1,340	$1,740	$2,120	$950
ZIP 46121 (27% of the ZIP’s land is in this place)	$1,120	$1,280	$1,480	$1,990	$2,390	$1,250

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Clay Township (Hendricks County)

What is the Section 8 payment standard in Clay Township (Hendricks County)?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Indianapolis-Carmel, IN HUD Metro FMR Area is $1,536, and the Small Area figure for 46103 is $1,340.

What is the Fair Market Rent for a two-bedroom in ZIP 46103?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46103 is $1,340 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $950 (±$198).

What is the Fair Market Rent for a two-bedroom in ZIP 46121?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 46121 is $1,480 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,250 (±$162).

What is the Fair Market Rent for a one-bedroom in Clay Township (Hendricks County)?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 46103 is $1,170 a month, against $1,336 across the Indianapolis-Carmel, IN HUD Metro FMR Area.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.