About This Property
Penn Street Tower contains 22 low-income residential units in Indianapolis serving families and individuals with disabilities. The property was placed in service in 2015 and offers a mix of 14 one-bedroom and 8 two-bedroom units. For more information about availability or application requirements, interested parties can contact the property management office.
Waitlist Information
Waitlist managed by Indianapolis Housing Agency
The Public Housing waitlist will close once the established application limit has been reached. Applicants were encouraged to submit applications as early as possible after the opening on November 16, 2026.
The Housing Choice Voucher (HCV) Program waitlist is closed. Applications were processed through a lottery process from November 16, 2026, to November 20, 2026. Future waitlist openings will be publicly announced.
Waitlist data provided by section8waitlist.org
Updated November 4, 2026
Property Details
Fair Market Rent - Marion County, IN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $982 |
| 1 Bedroom | $1,145 |
| 2 Bedroom | $1,349 |
| 3 Bedroom | $1,758 |
| 4 Bedroom | $2,126 |
Income Limits - Marion County, IN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,150
- Very Low (50%)
- $28,600
- Low (80%)
- $45,750
- Extremely Low (30%)
- $19,600
- Very Low (50%)
- $32,650
- Low (80%)
- $52,250
- Extremely Low (30%)
- $22,050
- Very Low (50%)
- $36,750
- Low (80%)
- $58,800
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $40,800
- Low (80%)
- $65,300
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $44,100
- Low (80%)
- $70,550
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $47,350
- Low (80%)
- $75,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $50,600
- Low (80%)
- $81,000
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $53,900
- Low (80%)
- $86,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,150 | $28,600 | $45,750 |
| 2 Persons | $19,600 | $32,650 | $52,250 |
| 3 Persons | $22,050 | $36,750 | $58,800 |
| 4 Persons | $26,500 | $40,800 | $65,300 |
| 5 Persons | $31,040 | $44,100 | $70,550 |
| 6 Persons | $35,580 | $47,350 | $75,750 |
| 7 Persons | $40,120 | $50,600 | $81,000 |
| 8 Persons | $44,660 | $53,900 | $86,200 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Indianapolis, IN?+
The Fair Market Rent (FMR) for Marion County, IN is: $982 (Studio), $1145 (1BR), $1349 (2BR), $1758 (3BR), $2126 (4BR). Actual rent at subsidized properties like Penn Street Tower is typically 30% of household income or less.
What size apartments are available at Penn Street Tower?+
Penn Street Tower offers the following unit types: 14 One-Bedroom, 8 Two-Bedroom units, for a total of 22 units.
How do I apply for housing at Penn Street Tower?+
Penn Street Tower is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Marion County, IN?+
For a 4-person household in Marion County, IN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $40,800, Low Income (80% AMI): $65,300. These limits are set by HUD and updated annually.
Who manages Penn Street Tower?+
Penn Street Tower is managed by . You can reach them at .
Who is eligible to live at Penn Street Tower?+
Penn Street Tower primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Is there a waitlist for Penn Street Tower?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What is the price range for apartments in Indianapolis, IN?+
Based on Fair Market Rent for Marion County, the estimated price range is: 1-bedroom: $1145, 2-bedroom: $1349. Actual rent at Penn Street Tower may be lower for income-eligible households.
Walk Score
Walker's Paradise
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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