Madison County, IN
Section 8 Fair Market Rents · FY 2026
Fair Market Rents by bedroom size
HUD sets FMRs annually. Local PHAs set their payment standards at 90–110% of FMR (higher with HUD approval) — the ranges below are estimates; confirm with the housing authority.
| Bedroom size | Fair Market Rent | Est. payment standard range |
|---|---|---|
| Studio | $898/mo | $808 – $988/mo |
| 1 BR | $919/mo | $827 – $1,011/mo |
| 2 BR | $1,206/mo | $1,085 – $1,327/mo |
| 3 BR | $1,594/mo | $1,435 – $1,753/mo |
| 4 BR | $1,597/mo | $1,437 – $1,757/mo |
Fair Market Rent by unit size — Madison County, IN (FY 2026)
Source: HUD FY 2026 data for Madison County. Payment standard ranges shown are 90–110% of FMR; actual standards vary by housing authority.
Housing authorities serving Madison County
This county is served by 2 housing authorities. Each may have its own waiting list, payment standards, and application requirements.
- Housing Authority of the City of Anderson
528 W 11th St, Anderson, IN, 46016 · 7656412620
- Housing Authority of the City of Elwood
1621 S A St Ste B, Elwood, IN, 46036 · 7655522148
Am I eligible?
To qualify for a Housing Choice Voucher in Madison County, your household's gross annual income generally must be at or below the limits below (50% of area median income, as set by HUD). Most agencies are required to prioritize applicants at or below 30% AMI for at least 75% of new vouchers.
| Household size | Max gross annual income |
|---|---|
| 1 person | $29,700 |
| 2 people | $33,950 |
| 3 people | $38,200 |
| 4 people | $42,400 |
| 5 people | $45,800 |
| 6 people | $49,200 |
| 7 people | $52,600 |
| 8 people | $56,000 |
Source: HUD Income Limits, 2026. Meeting the income limit does not guarantee a voucher — waiting lists, local preferences, and funding levels vary by housing authority. Learn more about eligibility →
Income-restricted housing in Madison County
These properties were built or rehabilitated using the federal Low-Income Housing Tax Credit (LIHTC) program and must rent a portion of units below market rate. Many, but not all, accept Section 8 Housing Choice Vouchers — contact the property directly to confirm current availability and voucher acceptance.
- Elderly
HOOSIER WOODS APARTMENTS
3833 HOOSIER WOODS COURT, ANDERSON, IN, 46013214 income-restricted units32 1BR, 111 2BR, 65 3BR, 6 4BR+Built 20239% LIHTCCompliance through ~2053 SWEET GALILEE AT THE WIGWAM
1315 JOHN STREET, ANDERSON, IN, 46016130 income-restricted units47 studio, 78 1BRBuilt 20229% LIHTCCompliance through ~2052THE FIELDHOUSE APARTMENTS
805 W 13TH ST, ANDERSON, IN, 4601644 income-restricted units42 1BR, 2 2BRBuilt 20194% LIHTCCompliance through ~2049THE LOFTS AT LEESON'S
201 S ANDERSON ST, ELWOOD, IN, 4603646 income-restricted units46 2BRBuilt 20194% LIHTCCompliance through ~2049COTTAGES OF ANDERSON
3221 MORTON STREET, ANDERSON, IN, 46016120 income-restricted units28 1BR, 64 2BR, 28 3BRBuilt 20184% LIHTCCompliance through ~2048THE MERCANTILE
302 N HARRISON STREET, ALEXANDRIA, IN, 4600126 income-restricted units16 1BR, 10 2BRBuilt 20174% LIHTCCompliance through ~2047ERHAL SENIOR HOUSING AT ANDERSON
28 W 12TH ST, ANDERSON, IN, 4601630 income-restricted units1 studio, 26 1BR, 3 2BRBuilt 20144% LIHTCCompliance through ~2044THE VILLAGE AT HILLSIDE
1326 W TENTH ST, ANDERSON, IN, 4601640 income-restricted units11 studio, 18 2BR, 11 3BRBuilt 20124% LIHTCCompliance through ~2042LINCOLNWOOD ESTATES
306 LINCOLN WOOD DR, ALEXANDRIA, IN, 4600132 income-restricted units28 1BR, 4 2BRBuilt 20094% LIHTCCompliance through ~2039ASHBURY POINTE II
200 ASHWOOD DR, PENDLETON, IN, 4606417 income-restricted units of 18 total18 2BRBuilt 20074% LIHTCCompliance through ~2037CENTRAL SCHOOL SENIOR APTS
2120 CENTRAL AVE, ANDERSON, IN, 4601628 income-restricted units of 35 totalBuilt 2007Compliance through ~2037ANDERSON HOMES/ASBURY GLEN
2409 PITT ST, ANDERSON, IN, 4601637 income-restricted units33 3BR, 4 4BR+Built 20054% LIHTCCompliance through ~2035HOOSIER WOODS APTS II
3833 HOOSIER WOODS CT, ANDERSON, IN, 4601397 income-restricted units of 110 total16 1BR, 55 2BR, 33 3BR, 6 4BR+Built 20054% LIHTCCompliance through ~2035TIMBERLAKE ESTATES SENIOR APTS
2200 HUMMINGBIRD LN, ALEXANDRIA, IN, 4600136 income-restricted units1 studio, 3 1BR, 32 2BRBuilt 20054% LIHTCCompliance through ~2035ALEXANDRIA MANOR APTS
600 E JACKSON ST, ALEXANDRIA, IN, 4600149 income-restricted units21 2BR, 28 3BRBuilt 20059% LIHTCCompliance through ~2035ASHBURY POINTE
100 ASHWOOD DR, PENDLETON, IN, 4606425 income-restricted units25 2BRBuilt 20044% LIHTCCompliance through ~2034FAIRVIEW PARK APTS
924 SUN VALLEY DR, ANDERSON, IN, 4601676 income-restricted units of 80 total38 2BR, 30 3BR, 12 4BR+Built 20034% LIHTCCompliance through ~2033FOREST GLEN APTS
1373 S L ST, ELWOOD, IN, 4603637 income-restricted units1 studio, 16 1BR, 20 2BRBuilt 20034% LIHTCCompliance through ~2033HOOSIER WOODS APTS I
3833 HOOSIER WOODS CT, ANDERSON, IN, 4601392 income-restricted units of 104 total16 1BR, 56 2BR, 32 3BRBuilt 20034% LIHTCCompliance through ~2033APPLECREEK COMMONS
1326 MCINTOSH LN, ANDERSON, IN, 4601396 income-restricted units of 194 total32 1BR, 48 2BR, 16 3BRBuilt 19974% LIHTCCompliance through ~2027WESTWOOD ESTATES
528 W 11TH ST, ANDERSON, IN, 4601649 income-restricted units49 3BRBuilt 19974% LIHTCCompliance through ~2027
Source: HUD LIHTC Public-Use Database. Properties shown were placed in service within the last 35 years and may still be under compliance obligations. Verify availability, income limits, and voucher acceptance directly with each property. More on finding affordable housing →
Estimate your voucher payment
Enter a Madison County ZIP code in the Voucher Payment Estimator for a personalized rent and subsidy estimate based on local FMR data.
Estimate payment →Investor: find your price ceiling
Use the Property Budget Calculator to find the max purchase price that hits your target return on a Section 8 unit in this market.
Run the numbers →