Low Income Apartments and Affordable Housing For Rent in Fishers, IN

Discover affordable housing in Fishers where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Cumberland Crossing

10225 Stage Coach Trl, Fishers, Indiana 46037

SouthPointe Village Apartments

11245 Lantern Road, Fishers, Indiana 46038

calendar_today Opened: Aug 1
Open Until Further Notice

Reported On January 29th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Fishers, Indiana
$25.55/hour
$18.30 (+252%) more than Indiana minimum wage and $18.30 (+252%) more than the Federal minimum wage.
Learn More About Fishers, Indiana Affordable Housing ↓

What HUD offices serve Fishers, Indiana?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Fishers, Indiana.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Fishers, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Fishers.

How many renters live in Fishers, Indiana?

The City of Fishers has 102,152 people living in 38,086 households.

There are 17,910 renters living in 9,204 renter households in this City. Renters make up 17.53 percent of the population living in Fishers.

What is the rental market like in Fishers, Indiana?

There are an estimated 37,227 housing units in the Fishers area. Of these, 8,794 units are rental homes, making up 24 percent of the housing market. For every renter household in Fishers, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Fishers?

The rental vacancy rate in Fishers is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Fishers for each bedroom size?

Occupied Rental Units by Size in Fishers
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
143 2,454 2,678 2,001 650
Occupied Rental Units by Size in Fishers

A large number of apartments in Fishers have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Fishers are overburdened by housing costs?

Among renter households in this market, 41 percent have housing cost burden. Further, 20 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Fishers

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $982 to $2,126. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $982
One BR $1,145
Two BR $1,349
Three BR $1,758
Four BR $2,126
2024 Fair Market Rents in Fishers, Indiana

How many units are rented at Fair Market Rent (FMR) in Fishers?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 28 20 percent
One BR 705 29 percent
Two BR 1,128 42 percent
Rental Units Below FMR in Fishers, Indiana

How many affordable rental units are in Fishers?

There are a variety of federal affordable housing programs serving households in Fishers, Indiana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 232
Tracked Units by Federal Program in Fishers, Indiana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Fishers, Indiana

Fishers features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Fishers, Indiana

There are 294 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fishers.

Housing Choice Vouchers in Fishers, Indiana

On average, Section 8 Housing Choice vouchers pay Fishers landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Fishers.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fishers, Indiana for a two-bedroom apartment is between $1,214 and $1,484.

Sourced from federal housing data and AffordableHousingOnline.com research.