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

Discover affordable housing in Noblesville where there are 4+ 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.

Noble Manor Apartments

780 Noble Run, Noblesville, Indiana 46060

Greystone Apartments of Noblesville

7160 Oxfordshire Blvd, Noblesville, Indiana 46062

Noble Manor Village

777 Queens Ln, Noblesville, Indiana 46060

Noblesville Senior Apartments

15367 Meredith Meadows Dr E, Noblesville, Indiana 46060

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 Noblesville, 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 Noblesville, Indiana Affordable Housing ↓

What HUD offices serve Noblesville, 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 Noblesville, Indiana.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Noblesville, Indiana.

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

How many renters live in Noblesville, Indiana?

The City of Noblesville has 74,262 people living in 26,857 households.

There are 19,129 renters living in 8,400 renter households in this City. Renters make up 25.76 percent of the population living in Noblesville.

What is the rental market like in Noblesville, Indiana?

There are an estimated 27,132 housing units in the Noblesville area. Of these, 7,713 units are rental homes, making up 28 percent of the housing market. For every renter household in Noblesville, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Noblesville?

The rental vacancy rate in Noblesville 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 Noblesville for each bedroom size?

Occupied Rental Units by Size in Noblesville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
122 1,817 3,183 1,452 501
Occupied Rental Units by Size in Noblesville

A large number of apartments in Noblesville 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 Noblesville are overburdened by housing costs?

Among renter households in this market, 34 percent have housing cost burden. Further, 5 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 Noblesville

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 Noblesville, Indiana

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

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 88 72 percent
One BR 882 49 percent
Two BR 1,935 61 percent
Rental Units Below FMR in Noblesville, Indiana

How many affordable rental units are in Noblesville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 945
Section 8 Project-Based Rental Assistance 336
Tracked Units by Federal Program in Noblesville, Indiana

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

Income Based Apartments in Noblesville, Indiana

Noblesville features 192 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 Noblesville, Indiana

There are 320 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Noblesville.

Housing Choice Vouchers in Noblesville, Indiana

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.