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Metro FMR · CBSA 21780 · HUD FY2026
Evansville, IN MSA Fair Market Rent
HUD's FY2026 Fair Market Rent for the Evansville, IN MSA metro area - 10% below the US average.
- $860
- 1-bedroom FMR
- $1,113
- 2-bedroom FMR
- +4.8%
- YoY change
- -10%
- vs US avg
The verdict
A 2-bedroom in the Evansville, IN MSA area rents at $1,113 under HUD's FY2026 Fair Market Rent - 5% below the US average, lower than 78% of the 387 metro areas HUD tracks.
- #86
- most affordable of 387 US metros (2BR)
- -5%
- vs the US 2-bedroom average
- $44,520
- income to afford it (30% rule)
- +4.8%
- 1BR change, FY2025→2026
Evansville is the 2nd cheapest of 12 HUD-tracked metro areas in IN by 1-bedroom FMR, a state where metro rents vary widely - the priciest metro runs 50% above the cheapest.
FY 2026 HUD Fair Market Rents for the Evansville, IN MSA metro area. Population: 269,191. Verify with HUD →
What these rents mean for the Evansville, IN MSA metro
HUD's FY 2026 Fair Market Rent schedule sets the Evansville, IN MSA Metro Area (CBSA 21780) 1-bedroom at $860, with a studio at $853, 2-bedroom at $1,113, 3-bedroom at $1,370, and 4-bedroom at $1,539. These are the 40th percentile of gross rents, utilities included, excluding telephone, meaning roughly 60% of standard-quality rentals in the metro cost more. Because HUD treats a metropolitan statistical area as a single rent market, every county inside the Evansville, IN MSA CBSA shares these FMR figures, and local housing authorities use them to set Section 8 Housing Choice Voucher payment standards (typically between 90% and 110% of FMR).
Against the national benchmark, a 1-bedroom in Evansville, IN MSA is 10% below the US 1-bedroom FMR of $959. Year-over-year the 1-bedroom FMR shifted from $821 in FY 2025 to $860 in FY 2026 - a change of +4.8%, which outpaces typical consumer inflation and signals continued demand pressure. Metro-level FMRs often diverge from the rents listed for any single suburb, so renters should view this as the HUD ceiling, not a street-level market rate.
For affordability, the 30% rule says rent should not exceed 30% of gross household income. At the FY 2026 1-bedroom FMR of $860, that implies a household income of $34,400 per year (about $2,867/month) - a 2-bedroom at $1,113 raises that income floor further. With a metro population of 269,191 and a median household income of $67,671, the gap between FMR and local wages determines how many households qualify as rent-burdened (paying more than 30% of income) or severely burdened (above 50%). Metro FMR also anchors the Small Area FMR program, which sets ZIP-level payment standards in designated metros to expand voucher choice into higher-opportunity neighborhoods.
Where Evansville sits among every US metro
2-bedroom Fair Market Rent vs. all 387 HUD metro areas
$1,113 higher than 22% of 387 metro areas
Each bar is a $0.2K-wide band; taller bars hold more metro areas. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Department of Housing and Urban Development, Fair Market Rents · FY2026
Fair Market Rents by bedroom (2026)
HUD's FY2026 ceiling for each unit size, with the year-over-year change and how it compares to the US average.
Studio
$853
US avg $893
↑9.4% YoY
-4% vs US
1 Bedroom
$860
US avg $959
↑4.8% YoY
-10% vs US
2 Bedroom
$1,113
US avg $1,175
↑5.6% YoY
-5% vs US
3 Bedroom
$1,370
US avg $1,525
↑5.4% YoY
-10% vs US
4 Bedroom
$1,539
US avg $1,756
↑4.5% YoY
-12% vs US
Year over year, the 1-bedroom moved from $821 in FY2025 to $860 in FY2026 - a change of +4.8%, outpacing typical consumer inflation.
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Required annual income for 1 BR
$34,400
$2,867/month gross
Required annual income for 2 BR
$44,520
$3,710/month gross
The local median household income is $67,671 - comfortably above the $44,520 needed to afford a 2-bedroom at FMR, leaving the median household with room under the 30% line.
How Evansville compares on 1-bedroom rent
1-bedroom FMR vs other IN metro areas
- Indianapolis-Carmel
Indianapolis-Carmel, IN HUD Metro FMR Area
$1,267 1BR FMR / mo
- Columbus
Columbus, IN MSA
$1,257 1BR FMR / mo
- Bloomington
Bloomington, IN HUD Metro FMR Area
$1,072 1BR FMR / mo
- Elkhart-Goshen
Elkhart-Goshen, IN MSA
$992 1BR FMR / mo
- Fort Wayne
Fort Wayne, IN HUD Metro FMR Area
$916 1BR FMR / mo
- Evansville
Evansville, IN MSA
$860 1BR FMR / mo
What this shows Evansville is highlighted. Bars are FY2026 HUD 1-bedroom Fair Market Rents.
Nearby & Similar Metro Areas
How Evansville stacks up against other metro areas in the same state, by 1-bedroom Fair Market Rent.
Frequently Asked Questions
What is the average rent in the Evansville, IN MSA metro area? ▼
The FY 2026 Fair Market Rent for a 1-bedroom in Evansville, IN MSA is $860 per month. A 2-bedroom is $1,113 and a studio is $853.
How does Evansville, IN MSA rent compare to the national average? ▼
Rent in the Evansville, IN MSA metro area is 10% below the national average. A 1-bedroom costs $860 compared to $959 nationally.
What income do I need to afford rent in Evansville, IN MSA? ▼
Based on the 30% affordability rule, you need an annual income of at least $34,400 ($2,867/month) to afford a 1-bedroom at Fair Market Rent in the Evansville, IN MSA area.
Is rent going up or down in Evansville, IN MSA? ▼
The 1-bedroom Fair Market Rent in Evansville, IN MSA increased by 4.8% from FY 2025 to FY 2026, going from $821 to $860.
How does Fair Market Rent affect Section 8 vouchers in Evansville, IN MSA? ▼
HUD uses Fair Market Rents to set maximum payment standards for Housing Choice Vouchers (Section 8) in the Evansville, IN MSA area. The FY 2026 FMR of $860/mo for a 1-bedroom sets the baseline, local housing authorities can set their payment standard between 90% and 110% of FMR.
What does Fair Market Rent mean for the Evansville, IN MSA area? ▼
Fair Market Rent (FMR) is the 40th percentile rent estimate set by HUD for the Evansville, IN MSA metro area. It includes rent plus the cost of utilities (except telephone). FMR is used to determine housing assistance payment amounts, set rent ceilings for certain HUD programs, and evaluate housing affordability.
Rental Guides
How Fair Market Rent Works
What FMR means, how HUD calculates it, and why it matters for renters
Section 8 Housing Guide
How Housing Choice Vouchers work, eligibility, and applying
Understanding Rent Burden
The 30% rule, what cost-burdened means, and how to evaluate affordability
Rent vs. Buy Decision
When renting makes more financial sense than buying a home
Explore Evansville, IN MSA rent data
What this means for renters
Treat the Evansville area's FY2026 Fair Market Rent as HUD's affordability benchmark, not a street-level market rate.
- Budget to roughly 30% of income: the FY2026 1-bedroom FMR of $860 implies about $34,400/yr to rent without being cost-burdened. Run your numbers
- Compare this metro against others before you commit to an area. Compare metros
- See where it ranks among the metros HUD tracks. View rankings
Metro FMRs are HUD's 40th-percentile benchmark used to set voucher payment standards and often diverge from the rents listed in any single suburb. HUD updates FMRs once a year.
Data as of FY 2026. Source: U.S. Department of Housing and Urban Development (HUD) Fair Market Rents. Population and demographic data from U.S. Census Bureau American Community Survey (ACS).
Fair Market Rents represent the 40th percentile of gross rents for standard quality units in each area. HUD publishes updated FMRs annually.
Read our methodology - how this data is sourced, computed, and verified.
FY 2026 HUD FMR $860/mo · 1BR IN
Update cadence
Annual (FY)
Refreshed within 30 days of HUD release
Source
HUD User
huduser.gov/portal/datasets/fmr.html
Every figure on PlainRent is rendered directly from HUD's published Fair Market Rent records, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of FY 2026.