ZIP 46041 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 46041 in the Indianapolis-Carmel, IN FMR area.

Indianapolis-Carmel, IN

$830Efficiency

$8501 bedroom

$1,0402 bedrooms

$1,3803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$1,187
1 bedroom	$850	$765	$935	$1,336
2 bedrooms	$1,040	$936	$1,144	$1,536
3 bedrooms	$1,380	$1,242	$1,518	$1,991
4 bedrooms	$1,560	$1,404	$1,716	$2,425

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Kokomo, IN MSA

$830Efficiency

$8501 bedroom

$1,0402 bedrooms

$1,3803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$909
1 bedroom	$850	$765	$935	$915
2 bedrooms	$1,040	$936	$1,144	$1,179
3 bedrooms	$1,380	$1,242	$1,518	$1,420
4 bedrooms	$1,560	$1,404	$1,716	$1,636

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Lafayette-West Lafayette, IN

$830Efficiency

$8501 bedroom

$1,0402 bedrooms

$1,3803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$942
1 bedroom	$850	$765	$935	$1,070
2 bedrooms	$1,040	$936	$1,144	$1,273
3 bedrooms	$1,380	$1,242	$1,518	$1,517
4 bedrooms	$1,560	$1,404	$1,716	$2,128

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Carroll County, IN

$830Efficiency

$8501 bedroom

$1,0402 bedrooms

$1,3803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$760
1 bedroom	$850	$765	$935	$787
2 bedrooms	$1,040	$936	$1,144	$1,027
3 bedrooms	$1,380	$1,242	$1,518	$1,232
4 bedrooms	$1,560	$1,404	$1,716	$1,396

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Clinton County, IN

$830Efficiency

$8501 bedroom

$1,0402 bedrooms

$1,3803 bedrooms

$1,5604 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$830	$747	$913	$850
1 bedroom	$850	$765	$935	$855
2 bedrooms	$1,040	$936	$1,144	$1,063
3 bedrooms	$1,380	$1,242	$1,518	$1,416
4 bedrooms	$1,560	$1,404	$1,716	$1,445

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 46041

$57,004average adjusted gross income per tax return (2022)

$41,770average salaries and wages per return

10,940tax returns filed

22%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	29.5%
$25,000 to $50,000	29.2%
$50,000 to $75,000	17.6%
$75,000 to $100,000	9.9%
$100,000 to $200,000	11.7%
$200,000 or more	2.2%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 17.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 46041?

HUD's FY2027 Small Area FMRs for ZIP 46041 (Indianapolis-Carmel, IN) are $830 efficiency, $850 one bedroom, $1,040 two bedrooms, $1,380 three and $1,560 four bedrooms.

What payment standard can a housing authority set in ZIP 46041?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $936 to $1,144.

How affordable is rent in ZIP 46041?

Tax returns filed from ZIP 46041 reported an average adjusted gross income of $57,004 (2022). A two-bedroom unit at the Small Area FMR costs $12,480 a year, or 22% of that income.