How many renters live in Putnam County, Indiana?
The County of Putnam County has 36,942 people living in 13,808 households.
There are 7,211 renters living in 3,597 renter households in this County. Renters make up 19.52 percent of the population living in Putnam County.
What is the rental market like in Putnam County, Indiana?
There are an estimated 14,994 housing units in the Putnam County area. Of these, 3,693 units are rental homes, making up 25 percent of the housing market. For every renter household in Putnam County, Indiana, there are 1 rental units.
What is the vacancy rate for rentals in Putnam County?
The rental vacancy rate in Putnam County is 1 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Putnam County for each bedroom size?
Occupied Rental Units by Size in Putnam County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 69 | 840 | 1,545 | 956 | 129 |
Occupied Rental Units by Size in Putnam County
A large number of apartments in Putnam County 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 Putnam County are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 6 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 Putnam County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $827 to $1,729. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $827 |
| One BR | $855 |
| Two BR | $1,124 |
| Three BR | $1,503 |
| Four BR | $1,729 |
2024 Fair Market Rents in Putnam County, Indiana
How many units are rented at Fair Market Rent (FMR) in Putnam County?
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 | 55 | 80 percent |
| One BR | 524 | 62 percent |
| Two BR | 1,266 | 82 percent |
Rental Units Below FMR in Putnam County, Indiana
How many affordable rental units are in Putnam County?
There are a variety of federal affordable housing programs serving households in Putnam County, Indiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 184 |
| Section 8 Project-Based Rental Assistance | 132 |
| USDA Section 515 Rural Rental Housing | 235 |
Tracked Units by Federal Program in Putnam County, Indiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Putnam County, Indiana
Putnam County features 228 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 Putnam County, Indiana
There are 202 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Putnam County.
Housing Choice Vouchers in Putnam County, Indiana
On average, Section 8 Housing Choice vouchers pay Putnam County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Putnam County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Putnam County, Indiana for a two-bedroom apartment is between $1,012 and $1,236.
Sourced from federal housing data and AffordableHousingOnline.com research.
